Courts Are Now Split on Ignoring Nonvoting Classes in Subchapter V Plans
Disagreeing with two bankruptcy courts in Houston, Miami’s Judge Isicoff holds that a Sub V plan with a nonvoting class can be confirmed only as a nonconsensual plan.
After 180 Days, Confirmation Can’t Be Vacated, Even for the Best of Reasons
Federal Rule 60(b) can’t ‘end run’ Section 1144, Bankruptcy Judge Kimball holds.
Equitable Mootness Didn’t Stop the Court from Taking Away Stock Bought in a Plan
If a confirmation order is found not to be equitably moot on appeal, the debtor can’t raise equitable mootness again on remand.
Debt Purchaser Socked $65,000 for a Discharge Violation
Taggart doesn’t give more protection to a purchaser of debt than it does to the original creditor, Judge Scott Grossman says.
Debtor’s Subchapter S Status Is Estate Property that an Owner Can’t Terminate
Bankruptcy Judge Russin declines to follow the Third Circuit and adopts the conclusion of bankruptcy courts holding that Sub S status is estate property.
The Absolute Priority Rule Is Alive and Well in Individual Chapter 11 Cases
The BAPCPA amendments in 2005 did not abrogate the absolute priority rule for individuals in chapter 11, Bankruptcy Judge Russin says.
A Writ of Possession Doesn’t Terminate a Lease or Preclude Assumption
A landlord who terminates a lease isn’t entitled to a claim for future rent, at least in Florida, according to a district judge who affirmed Bankruptcy Judge Isicoff.
Are Chapter 13 Creditors Entitled to Proceeds from a Post-Confirmation Tort Claim?
The Code and the Rules are unclear about a chapter 13 debtor’s obligation to disclose assets acquired post-petition that were not derived from income.
Current IRS Expense Standards Used When Modifying a Chapter 13 Plan
Bankruptcy Judge Robert Mark used common sense and logic to answer a question where the statute has no ready answer.
Courts Split on Committee Intervention as of Right in Adversary Proceedings
The circuits are split on whether a creditors’ committee may intervene as of right in adversary proceedings under Section 1109(b).