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May 25, 2004
NO STATE SOVEREIGN IMMUNITY IN ADVERSARY PROCEEDING TO DETERMINE DISCHARGEABILITY The Supreme Court has affirmed the Sixth Circuit (and the Bankruptcy Court) in Tennessee Student Assistance Corporation v. Hood. The issue was whether a Bankruptcy Court could overrule a state”s objection to jurisdiction based on sovereign immunity in an adversary complaint seeking discharge of a...
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FORMULA FOR INTEREST RATE FOR SECURED CLAIMS IN CHAPTER 13 The Supreme Court, in a complicated split, has ruled on the appropriate interest rate for a Chapter 13 plan for a secured claim (whose collateral is an automobile). The Court”s opinion, written by Justice Stevens and joined by Justices Souter, Ginsberg and Breyer, states that...
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Collateral Estoppel Used to Prevent Discharge Chicago Daily Law Bulletin The 7th U.S. Circuit Court of Appeals has reversed a ruling by U.S. District Judge Richard L. Young of the Southern District of Indiana. When John W. Catt II declared bankruptcy, Shirley and Gerald Hash, who had been joint venturers with Catt in a construction...
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Number of bankruptcy filings continues to rise PATRICIA MANSON, Law Bulletin staff writer Consumers kept the courts busy over the last year, filing more than 1.6 million bankruptcy petitions as they struggled to cope in a bad business cycle. The Administrative Office of the U.S. Courts reported on Friday that consumers seeking to liquidate or...
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