New Opinions

Sections 546 (e) and 561 (d) Are Limited to Avoidance Claims, Do Not Explicitly Bar Foreign Common Law Claims.

March 16, 2021 admin

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The Court stated that Sections 546(e) and 561(d) are limited to avoidance claims and do not explicitly bar foreign common law claims even if they seek the same relief.

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A Trustee’s Fraudulent Conveyance’s Claims Fail, Insufficient Badges of Fraud to Establish Fraudulent Intent

March 11, 2021 admin

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The Court held that the Trustee was entitled to a judgment that a cash transfer constituted a fraudulent transfer under 11 U.S.C.S. § 548(a)(1)(A) and TUFTA, as the affirmative defense of reasonably equivalent value or good faith was not shown

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A Michigan Bankruptcy Court Enunciates Requirements to Grant a Creditor’s Motion for Derivative Standing in Chapter 13 Cases.

February 16, 2021 admin

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The Michigan Court grants creditor's derivative standing motion, with certain conditions and denies the Trustee's abandonment motion.

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A Texas Bankruptcy Court Discusses Application of “Contemporaneous Exchange” Against Insider Guarantors

February 2, 2021 admin

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The Court discusses the rationale for the creation of the insider concept in the bankruptcy avoidance arena.

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Nebraska Court Avoids Perfection of the Security Interest on the Debtor’s Undivided Half-Interest as a Preference

January 30, 2021 admin

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The Court declined to accept the defendant's equitable defense and held that the equitable defenses to preference actions are not generally recognized by the bankruptcy courts.

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Transfers Made to a Creditor Through its Law Firm Are Preferential, Including Portions Retained by the Firm Under Fee Agreement.

January 30, 2021 admin

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The case discusses about preference claims when an agent receives transfer on behalf of a defendant creditor.

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Level 8 Apparel Trustee’s Complaint Against Insider Defendants Dismissed for Lack of Specificity in Allegations

January 30, 2021 admin

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The case discusses interesting issue of lack of specificity in a trustee's complaint and allegations.

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Trustee’s New Claims Did Not Qualify “Relation Back” Under Rule 15(c), Barred by the Statute of Limitations

January 28, 2021 admin

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The Court discusses the issues relating to "relation back" and concludes that the new claims against the defendant did not "relate back" to the original complaint and are barred by the statute of limitation.

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Illinois Bankruptcy Court – No Thumb Rule, Allegations in Each Case Must be Carefully Examined to Determine Whether Fed. R. Civ. P. 15(c) Permits “Relation Back”

January 25, 2021 admin

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There is no bright-line test or easy rule of thumb; the allegations in each case must be carefully examined to determine whether Rule 15(c) permits “relation back”.

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A Trustee’s New Claims Did Not Qualify “Relation Back” Under Rule 15(c), Barred by the Statute of Limitations

January 23, 2021 admin

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The Court discusses the issues relating to "relation back" and concludes that the new claims against the defendant did not "relate back" to the original complaint and are barred by the statute of limitation.

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