Judge Harner Gives Contours to the Amorphous Notion of ‘New Value’
The ‘new value’ offered by old equity in a chapter 11 plan was insufficient because it was only a small fraction of claims and because the dividend to creditors was also small.
Court:
IRS Standard Deduction for Housing Can Be Taken Without Mortgage or Rent Expense
Official Form 122C-2 could be read to deprive a chapter 13 debtor of the IRS standard housing deduction when the statute permits the deduction.
Court:
Air Methods Chapter 11 Restructuring Plan Approved
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Debtor May Amend a ‘13’ Plan to Modify the Treatment of a Secured Creditor’s Claim
Chicago Bankruptcy Judge David Cleary followed a decision by then-district Judge David Hamilton and “respectfully” disagreed with decisions by two predecessors on the same bankruptcy bench.
Scheduling a Home with a Low Value Didn’t Protect a ‘13’ Debtor When It Was Sold
In the Fourth Circuit, creditors are compensated when there is a ‘substantial improvement’ in a chapter 13 debtor’s financial condition.
Sub V Plan with Nondebtor Release Approved over Opposition from the Affected Class
A decision from a New York bankruptcy court makes nondebtor releases easier to obtain in Subchapter V than in large, mass tort chapter 11 cases.
SAS Expects to Emerge from Chapter 11 Process by June, CEO Says
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