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Refusal to set aside a mortgage in a bankruptcy proceeding is vacated and remanded

1st circuit

In Re: Christine H. Lazarus (01/09/07 – No. 06-1982)

Refusal to set aside a mortgage in a bankruptcy proceeding is vacated and remanded where: 1) there was a preferential transfer under 547(b) and 2) the transferred mortgage was not rescued from avoidance by any exception to articulated in 547(c).

7th circuit

In Re: Doctors Hosp. of Hyde Park, Inc. (01/12/07 – No. 05-3502)

District court’s affirmation of bankruptcy court’s approval of settlement of adversary litigation is affirmed over a creditor’s arguments that the bankruptcy court: 1) erred in its determination of the value of the settlement to the estate; 2) miscalculated the range of litigation outcomes; and 3) did not make an independent evaluation of the settlement.

8th circuit

LaSalle Bank, N.A. v. Takes (01/10/07 – No. 06-1373)

In a Chapter 7 bankruptcy proceeding, the district court properly applied Iowa Code sections 560.20 and .21 in limiting the debtors’ homestead exemption in a condominium to the proceeds of their prior leasehold interest that were reinvested to purchase the property in 2004.

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