In a published opinion, the Seventh Circuit Court of Appeals (the Court) recently ruled that a tax sale purchaser which had not been formally served with notices of chapter 11 proceedings, including plan confirmation, but admitted in court that it was a “party” to the proceedings, was bound by the terms of the confirmed plan. Wheeler Financial, Inc., v. JPMorgan Chase Bank (In re Aguirre), 2022 WL 2166885 (7th Cir. June 16, 2022). Read more
The U.S. Bankruptcy Appellate Panel for the Ninth Circuit (the “BAP”) recently published an opinion “to clarify that bankruptcy courts do not always need to examine a compromise as a sale under [Bankruptcy Code] § 363.” Spark Factor Design, Inc. v. Hjelmeset (In re Open Medicine Institute, Inc.), 639 B.R. 169 (9th Cir. BAP 2022). Read more
In a unanimous opinion authored by Justice Sonia Sotomayor, the United States Supreme Court held that a 2017 congressional attempt to temporarily increase quarterly fees charged in large Chapter 11 bankruptcy cases is subject to the United States Constitution Bankruptcy Clause’s uniformity requirement and that the act violated the Constitution’s uniformity mandate. Read more
Charlotte Kernan underwent an apparently successful prenatal procedure to rotate her fetus from the breach position. She returned to the hospital the next day because she could not detect fetal movement. Read more
In a recent published opinion, the Ninth Circuit Court of Appeals (the Court) affirmed the bankruptcy court’s order converting a chapter 11 case to chapter 7 and further ruled that even though property of the estate had revested in the debtor upon plan confirmation, the debtor was required to turn over the rent and sale proceeds from her rental properties to the chapter 7 trustee because an explicit plan provision required the distribution of future proceeds from those assets to the creditors. Read more
In a recent unpublished but instructive opinion from the Third Circuit Court of Appeals (“the Court”), the Court explained why the issuance of Internal Revenue Service (“IRS”) Form 1099-C does not mean a debt has been cancelled or forgiven and further collection efforts regarding the unpaid debt are not a violation of consumer protection laws. Read more
The following regulatory information may be of interest to attorneys practicing insurance law. This information is current as of October 19, 2022. Read more