California Lawyers Association

Business Law Insolvency Law Committee

Updates from the BLS Insolvency Law Committee

In Emond v. Ryan McCarthy Investments, LLC (“Emond”), __ B.R.__, 2020 Bankr. LEXIS 1543 (May 21, 2020), the U.S. Bankruptcy Appellate Panel of the Ninth Circuit, in a non-published opinion, ruled that the bankruptcy court abused its discretion by granting a creditor’s motion to extend the deadline to file a complaint objecting to the dischargeability of a debt under 11 U.S.C. section 523 without a finding or showing of cause as required by Fed. R. Bankr. P. 4007(c). Read more
In re Cabral, 2020 WL 6556998 (November 5, 2020), the United States Bankruptcy Appellate Panel of the Ninth Circuit (“BAP”) affirmed the bankruptcy court's decision denying Debtors’ motion to dismiss their Chapter 7 case for cause under Section 707(a). Read more
Ninth Circuit affirms BAP’s decision upholding Chapter 7 Trustee’s sale of Debtor’s defensive appellate rights. Read more
Ninth Circuit certifies to the New York Court of Appeals questions about whether a defense of usury applies to litigation financing agreement. Read more
Corporate entity dissolved pre-petition by forfeiture under Texas law is not eligible to be a debtor in a chapter 11, subchapter V bankruptcy case. Read more
Bank's real and personal property collateral did not include equipment debtor acquired postpetition that was not proceeds or products of lender's prepetition collateral.   Read more
Trial court denied summary judgment to Amazon as defendant in a products liability action arising from a fire caused by thermostat bought from a third party through Amazon's online marketplace. Read more
By application of Tennessee law, court holds the debtor (not the debtor's estate) owned a legal malpractice claim when the malpractice occurs as a result of the filing of the bankruptcy petition. Read more
Court affirmed bankruptcy court order finding a TPO and attachment lien issued without an undertaking are voidable but not void. Read more
Exculpation provisions in debtor's proposed plan of reorganization were permissible under 11 U.S.C. section 1123(b)(6) because they were carefully and narrowly tailored to achieving confirmation of the plan. Read more

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