7th Circuit

Stern Objections Always Must Be Raised to Avoid Potential Malpractice

The lawyer who lost Wellness International may be facing malpractice liability.

Circuits Split on Invoking Safe Harbor Whenever a Bank Serves as Conduit

Seventh Circuit won’t immunize an LBO from fraudulent transfer just by using a bank conduit.
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Seventh Circuit Broadly Protects Exemption for Annuities in Wisconsin

Annuity purchased 18 months before bankruptcy is exempt in Wisconsin.
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Creditors Lack Standing to Appeal in ‘No Asset’ Cases

Sometimes only priority creditors will have standing to appeal, Seventh Circuit says.
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Seventh Circuit Requires Chapter 13 Payments Beyond Five Years

Appeals court narrowly reads Bullard on finality.
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Seventh Circuit Broadens ‘Ordinary Course’ Defense to Benefit Suppliers

Seventh Circuit lauds Judge Lane’s Quebecor World preference opinion.
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In-Kind Income Excluded from Calculation of Current Monthly Income

Judge takes practical approach to decide what’s considered current monthly income.

Courts Split on Allowing Individual Debtors to Retain Wages on Conversion from 11 to 7

Question left open in Harris v. Viegelahn decided against debtor in chapter 11.

Power to Issue Money Judgment for Nondischargeable Debt Survives after Stern

Posner chides bankruptcy judge for reluctance to enter money judgment.
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Chicago Judge Splits with Ninth Circuit on Interest for Unsecured Claims in Surplus Plan

Default interest rate given to unsecured creditors in full-payment chapter 11 plan.