Bankruptcy Judge Won’t Follow BAP Authority on Derivative Standing for Creditors
Bankruptcy Judge Thuma admonishes the parties to settle and not waste money on litigation that should go to sexual abuse victims.
Court:
Bribery Probe into a Nuclear Plant Bailout Examines Facilities’ Owner
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Ex-‘Arsenio Hall Show’ Musical Director Sentenced to over 2 Years in Prison for Embezzling Nearly $1 Million Intended for Charity Concert
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Fifth Circuit Again Says: No ‘Futility Defense’ Under the Texas UFTA
Following the answer by the Texas Supreme Court to a certified question, the Fifth Circuit again rules that an inability to discover fraud won’t absolve a transferee from the duty to investigate suspicions of fraud.
Court:
A Gaming License Isn’t ‘Property’ and Thus Can’t Be Fraudulently Transferred
A gaming license in Pennsylvania is a revocable ‘privilege.’
Eleventh Circuit Reads Husky Narrowly, Perhaps Too Narrowly
Reading Husky narrowly, the Eleventh Circuit requires that fraud occur before a debt arises to make the debt nondischargeable under Section 523(a)(2)(A).
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Second Circuit Upholds the Madoff Trustee’s Calculation of Fraudulent Transfer Claims
Fictitious profits in account statements don’t represent ‘value’ and give rise to a defense for receipt of a fraudulent transfer with ‘actual intent,’ the Second Circuit rules.
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Fraudulent Transfer Law Doesn’t Victimize Innocent Parties, Judge Wiles Says
Ownership of a bank account isn’t enough by itself to make the account holder the initial transferee of a fraudulent transfer.
‘No Harm, No Foul’ Doesn’t Entitle a Debtor to a Discharge, BAP Says
Advice-of-counsel defense doesn’t work when intent is clearly fraudulent.
Court:
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