8th Circuit

Eighth Circuit Definitively Holds: Avoidance Actions Are Estate Property and Can Be Sold

Now a circuit judge, a former bankruptcy judge makes quick work of a troublesome issue about property of the estate.
Court: 

Till Doesn’t Require Starting with the Prime Rate, Eighth Circuit Says

The Treasury rate and prime rate are both proper starting points for pegging post-petition interest rates, but starting with Treasurys requires a larger risk premium.
Court: 

BAP Gives Post-Petition Appreciation to Chapter 7 Estate on Conversion from Chapter 13

In a rising real estate market, chapter 13 debtors risk losing their homes if they sell or convert to chapter 7.
Court: 

Courts Split on Plan Amendments Requiring Substantial, Unanticipated Changes

Eighth Circuit BAP ‘at a minimum’ requires substantial changes in financial condition for a debtor to modify a confirmed chapter 12 plan.
Court: 

Clark v. Rameker Didn’t Say that All Inherited IRAs Aren’t Exempt

In Section 522(b)(3), Congress made sure that ‘retirement funds’ are exempt in bankruptcy even if they aren’t exempt in states that don’t permit federal exemptions.

Post-Petition Appreciation in the Value of a Home Goes to Creditors in Chapter 13

Courts are deeply split on a chapter 13 debtor’s ability to keep the appreciation in an exempt home, whether or not the case converts to chapter 7.

Strict Rule Compliance Not Required for Serving a Complaint, Circuit Says

The Bankruptcy Rules for serving a summons and complaint are not jurisdictional, Eighth Circuit says.
Court: 

Chapter 7 Estate Takes Post-Petition Appreciation on Conversion from Chapter 13

Joining the ‘slight minority,’ Judge Fenimore rules that post-petition appreciation in the value of a homestead goes to the chapter 7 estate when the chapter 13 case converts.

Transfer Occurs When Property Is Placed in Escrow or In Custodia Legis

When disbursement depends on subsequent court approval, the transfer still occurs beforehand when the deposit was made in custodia legis.

No De Novo Review of Discovery Sanctions After the Reference Is Withdrawn

An adverse inference sanction for spoliation of evidence is reviewed for abuse of discretion by the district court after withdrawal of the reference.

Pages