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Tuesday, August 01, 2006

3rd Circuit
When an employer in Chapter 11 bankruptcy seeks to terminate multiple pension plans voluntarily under the "reorganization test," Congress intended the bankruptcy courts to apply the test to all of the plans in the aggregate, as opposed to each plan independently.
5th Circuit
Section 506(b) does not permit appellants' recovery of attorney's fees and costs, as part of their oversecured statutory materialmen's lien claims against a bankruptcy debtor's oil and gas wells.
6th Circuit
There is a presumption that default interest should be paid to unsecured claim holders in a solvent debtor bankruptcy case. Further, unsecured creditors can collect attorneys' fees, costs and expenses from solvent debtors where they are permitted to do so by the terms of their contract and applicable non-bankruptcy law.
7th Circuit
Appeal from the bankruptcy court is dismissed where the presumption that a procedural change is to be applied retroactively falls away when the statute making the change specifies that the statute shall not apply to pending cases.

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