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Monday, February 13, 2006

Return of the Case Roundup (the Next Generation)

1st Circuit
District court's reimposition of an automatic stay in a bankruptcy proceeding is affirmed since a creditor could not prevail in its appeal since it did not directly or indirectly call into question the correctness of the district court’s rationale in reimposing a stay in the matter.
3rd Circuit
Dismissal of plaintiff's state court action to recover unpaid severance benefits from current and former officers of his now-bankrupt previous employer is reversed where the district court committed errors of law in ruling that the Bankruptcy Code's mandatory abstention provision was inapplicable to plaintiff's case.
Bankruptcy court orders granting defendant-mortgagee-bank's motion for an award of attorney's fees and expenses for services rendered relating to a foreclosure are reversed where recovery certain lending agreements at issue merged into a final judgment of foreclosure, and no exception to the merger doctrine applied.
Dismissal of a suit for a declaratory judgment involving an arbitration award for mootness and denial of a motion to vacate the arbitration award is reversed in a case involving an insurance coverage dispute over asbestos claims where an arbitration proceeding at issue had become subject to an automatic bankruptcy stay.
Approval of a bankruptcy settlement agreement involving claims against makers of products containing ephedra is affirmed where the district court properly approved the settlement under federal bankruptcy law and did not abuse its discretion in finding the settlement was made in good faith under state law.
4th Circuit
Bankcruptcy court holding that defendant did not have to count plaintiff-airport's vote to reject defendant's Chapter 11 plan of reorganization is affirmed where plaintiff had no right to vote on the plan under the Bankruptcy Code.
5th Circuit
Bankruptcy court's treatment of preference payments certain suppliers received from a grocery store chain before it filed bankruptcy is affirmed with modification where none of the payments at issue qualified for the ordinary course of business defense, and a subsequent advance defense was properly applied to both suppliers.
Judgment for defendant in one action and plaintiff in another on claims by a subcontractor against a surety for construction work is affirmed where: 1) the subcontractor's filing of an involuntary bankruptcy petition against the debtor could not preserve one claim, and 2) a statutory peremption period was not triggered when notice of a construction contract was filed but notice of termination was not.
Order staying a breach of insurance contract and bad faith case involving a default judgment in an underlying wrongful death case pending the resolution of a related state court suit is reversed where the district court abused its discretion in staying the matter.
Summary judgment for plaintiff is affirmed in a suit alleging claims under the Uniform Fraudulent Transfer Act by plaintiff-receiver against investors in a Ponzi scheme, and an order declaring nondischargeability of the monetary judgments in bankruptcy is vacated as premature.
6th Circuit
Judgment for debtor in a bankrupcty case regarding the interpretation of a sale and leaseback arrangement of computers is affirmed where the contract at issue did not make the debtor responsible for errors by an appraiser which resulted in a substantial tax liability for creditor.
Denial of class certification in a consumer class action against defendant-lender under the Fair Credit Reporting Act is granted where the district court's reasons for denying certification evinced hostility to all class litigation or were improper grounds for such denial.
8th Circuit
Order granting in part, and disallowing in part, a proof of claim in a bankruptcy proceeding is affirmed where the bankruptcy court did not abuse its discretion by not conducting an evidentiary hearing since the parties did not request a hearing and notice was properly given.
Orders sustaining defendant-bankruptcy trustee's objection to plaintiff-debtors' claim of exemption in portions of their federal tax refunds involving the federal child tax credit are affirmed since plaintiffs' child tax credit was a contingent interest on the date their bankruptcy petition was filed, and thus, was property of the bankruptcy estate.
9th Circuit
Denial of an attorney's fees request pursuant to a state statute for attorney's fees incurred in bankruptcy discharge litigation is affirmed since attorney's fees are not available for litigating federal bankruptcy issues.
11th Circuit
Dismissal of plaintiff-bankruptcy trustee's complaint against entities allegedly involved in a massive Ponzi scheme that defrauded investors is affirmed since the doctrine of in pari delicto barred his claims for violations of the Racketeer Influenced and Corrupt Organizations Act, and Georgia courts do not recognize a claim for aiding and abetting a breach of fiduciary duties.
Federal Circuit
A bankruptcy trustee's proceeding to set aside the debtor's preferential transfers to state agencies is not barred by sovereign immunity. Pursuant to the Bankruptcy Clause, Congress may, at its option, either treat states in the same way as other creditors insofar as concerns "Laws on the subject of Bankruptcies" or exempt them from operation of such laws.

posted by mhedayat at 2/13/2006 02:14:00 PM

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