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March 28, 2010

Circuit Court of Appeals Cases from Last Week

Supreme Court, March 23, 2010
United Student Aid Funds, Inc. v. Espinosa, --- U.S. ---- (2010)(Order confirming chapter 13 plan cannot be attacked years later even though it contained improper provision discharging student loans - lender had sufficient notice)

2nd Circuit Court of Appeals, March 22, 2010
In re Johns-Manville Corp., --- F.3d ---, 2010 WL ------- (2nd Cir 2010)(objector-insurer not given constitutionally sufficient notice of the bankruptcy court's 1986 orders, so that due process absolved it from following them, whatever their scope)

2nd Circuit Court of Appeals, March 26, 2010
In re WestPoint Stevens, Inc., --- F.3d ---, 2010 WL ------- (2nd Cir 2010)(chapter 11 plan affirmed in part and reversed in part re distribution of securities but court of appeals lacks jurisdiction to review the sale order unless a stay had been entered or there was a challenge to the "good faith" aspect of the sale; and 2) in withdrawing the motion for "a stay of the closing of the sale," the parties' stay stipulation permitted the transfer of assets and the lien release, claim satisfaction, and distribution to occur as a single integrated transaction)

3rd Circuit Court of Appeals, March 22, 2010
In re Philadelphia Newspapers, LLC. , --- F.3d ---, 2010 WL ------- (3rd Cir 2010)(proposed bid procedure is affirmed as section 1129(b)(2)(A) unambiguously permits a debtor to proceed with any plan that provides secured lenders with the "indubitable equivalent" of their secured interest in the asset and contains no statutory right to credit bidding)

6th Circuit Court of Appeals, March 24, 2010
In re Westfall, --- F.3d ---, 2010 WL ------- (6th Cir 2010)(negative equity qualifies for protection from cramdown under the hanging paragraph of 11 U.S.C. section 1325(a) because negative equity financing constitutes a purchase money obligation under the UCC and thus the associated security interest satisfies the UCC's definition of a purchase money security interest)

7th Circuit Court of Appeals, March 25, 2010
Ojeda v. Goldberg, --- F.3d ---, 2010 WL ------- (7th Cir 2010)(bankruptcy court reversed where: 1) it clearly erred in finding that the creditor was unjustified in relying on the debtors' misrepresentations about the asserted continued ownership of McDonald's restaurants and by finding that the creditor did not establish a claim for fraudulently induced forbearance; and 2) the bankruptcy court committed an error of law in finding that only the unpaid interest and attorney's fees were non-dischargeable)

9th Circuit Court of Appeals, March 22, 2010
In re Marshall, --- F.3d ---, 2010 WL ------- (9th Cir 2010)(In an action based on defendant's purported tortious interference with a substantial inter vivos gift that plaintiff's late husband intended to give to her, judgment for plaintiff is reversed where a prior Texas probate court judgment should have been afforded preclusive effect because it was the earliest final judgment on matters relevant to the proceeding)

9th Circuit Court of Appeals, March 22, 2010
In re Taylor, --- F.3d ---, 2010 WL ------- (9th Cir 2010)(bankruptcy court reversed where court's determination of the value of the security interest in vehicle was clearly erroneous, because there was no evidence to support the finding that the value of the security interest equaled the amount of the original loan at the time the bank perfected its security interest)

D.C. Circuit Court of Appeals, March 26, 2010
Burns v. George Basilikas Trust, --- F.3d ---, 2010 WL ------- (D.C. Cir 2010)(Rule 9011(b)(2) sanctions reversed where requesting counseling from an unapproved credit counseling agency could satisfy 11 U.S.C. section 109(h)(3), and thus counsel did not violate that statute)

Thanks to Findlaw.com

March 28, 2010 in Other Circuit Briefs | Permalink

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