Business Law Insolvency Law Committee

Dear constituency list members of the Insolvency Law Committee, the following is a recent case update: SUMMARY The Bankruptcy Appellate Panel of the Ninth Circuit affirmed the bankruptcy court’s dismissal, with prejudice, of a debtor’s fraudulent transfer action seeking to avoid the sale of tax-defaulted real property because: (i) the complaint failed to allege sufficient facts, (ii) the debtor unduly delayed in seeking to amend the complaint, and (iii) amendment of the complaint was futile, since a properly conducted sale… Read more

Dear constituency list members of the Insolvency Law Committee, the following is a case update on a recent decision of interest: SUMMARY The United States Court of Appeals for the Ninth Circuit held that fraud which would have justified the bankruptcy court denying a discharge under 11 U.S.C. §727(a)(4)(A) will support an action to revoke a discharge under 11 U.S.C. §727(d)(1).  Jones v. U.S. Trustee, Eugene, ___ F.3d ___, 2013 WL 6224330 (9th Cir. 2013 Dec. 2, 2013 Dkt. no. 12-35665) (“Jones”). … Read more

Dear constituency list members of the Insolvency Law Committee, the following is a case update on two cases of interest that will be heard by the United States Supreme Court: SUMMARY This January, the United States Supreme Court will hear oral arguments on two bankruptcy cases originating out of the Ninth Circuit Court of Appeals:  Law v. Siegel, No. 12-5196 and Executive Benefits Ins. Agency v. Arkison, No. 12-1200.  The cases present distinct questions.  In Law, the question is whether—pursuant either to its… Read more