Still catching up…  Below are my last 25 bankruptcy case tweets of July 2011 and one other tweet of general interest since my last post of August 20RSS Feeds are also available.  All my twitter posts are here.

The chart of What Stocks Typically Do After a 20% Correction is the "Money Game Chart of the Day" for 8/18/11 from a post entitled What Happens to Stocks If Profits Don’t Collapse?

 Bankruptcy Cases and Topics

  • DC Cir: Creditors’ tortious intf. cplt v. FDIC for misconduct in thrift sale was outside of FIRREA’s jurisdictional bar.
  • B-NC dismisses counts ag. lender for equitable subordination bec of meager allegations of control & inequitable conduct.
  • D-TX disallows personal injury claim of party that does nothing to comply with ADR procedures in Pilgrims Pride case.
  • D-LA: Whether lease allegedly terminated prepet. was sold in 363 sale is core proceeding that shd be heard by the BK Ct.
  • D-AZ: Make-whole provision on prepayment that’s a reas. forecast of harm for future breach isn’t unenforceable penalty.
  • D-CA denies FDIC-R motion for mandatory withdrawal of reference of dispute w/ Indymac BK trustee re rts to tax refund.
  • B-NJ reviews Circuit split & differing standards re whether a confirmed plan has extinguished a prepetition lien.
  • B-NEB: Agreement’s 10% purchase option (equaling 9% of total lease payments) is nominal, so it isn’t a true lease.
  • B-PA: Dbtr’s active concealment of prepet transfers warrants equitable tolling to allow Ttee to amend cplt to add tsfs.
  • B-PR: Failure to pay postpet. taxes is "cause" for dismissal per 1112(b)(4)(I) & no "unusual circs." warrant otherwise.
  • B-DE: Recharacterization cplt .survives Twiqbal; 7 factors favor rechar. as equity, 3 favor debt, and 2 favor neither.
  • D-FL excludes testimony per Daubert of accounting expert who tries to apply AICPA auditing stds. to non-auditing work.
  • D-MN:Circuits are split re right to jury trial on liability/dgs once debt found nondischargeable, but waiver found here.
  • B-NC: If UCC not found using Sec/State’s "standard search logic" then name error fatal to effective financing statement.
  • B-NH: Competitor buying claim for standing to offer competing plan & not just block Dbtr plan isn’t acting in bad faith.
  • B-NH: Advances of balance sheet neutral debt and waivers of admin/priority claims aren’t new value to support a plan.
  • MD-AL reminds that a suit for violation of § 524 discharge injunction can be brought only as a contempt action.
  • 7th-Posner-reviews stds of appellate nonreview of remand of case removed under §1452, incl for lack of supplemental JD.
  • 7th assumes w/out deciding that BK Cts can exercise supplemental jurisdiction over state law claims, but why would they?
  • B-MS cites to Collier in reversing order appointing patient care ombudsman bec doc’s med care monitored by Medical Ctr.
  • B-DC: Violation of § 542(b) by failing to pay debt or turnover deposits to Dbtr can’t be a basis for a contempt finding.
  • 9th affirms long Markell op. re subrogation; agrees that partner/co-venturer isn’t surety entitled §509(a) subrogation.
  • 9th disagrees with Markell op. that loan discharged via foreclosure wasn’t actually paid by subrogors under §509(a).
  • B-NJ reviews 3d-2010 op. re Rooker-Feldman reqts; finds R-F applies to state foreclosure jdgmts even if interlocutory.
  • 5th: Injunction ag. Wells F. for filing claim replete with errors improperly aimed at other cases and beyond Ct. reach.

 Topics of General Interest 

  • Wise & witty speech thrown by Justice Ginsburg in Cooperstown on the opening day of the Hall of Fame Induction weekend.

  Thanks for reading!