11th Circuit Fibreboard Corp. v. Celotex Corp. (12/20/06 – No. 05-16039) plaintiff could not bring subrogation claim against defendant in bankruptcy proceedings under either the Code or state law; and in any event was not entitled to a subrogation claim for paying judgments on which both it and defendant were jointly and severally liable.Read More
Bankruptcy: In re Teknek, LLC, 05-27545 Adversary: Trustee v. Hamilton et al., 06-00412 Issued: October 16, 2006 Judge: Jacqueline P. Cox Court: Northern District of Illinois,Eastern DivisionRead More
In re Green, 348 B.R. 601 (Bkrtcy.M.D.Ga. 2006) language of §1325(a)(9) (hanging paragraph) makes §506 inapplicable to a “910” debt Debtor proposed to pay PMSI debt on motor vehicle in full through plan without interest. creditor objected, asserting that its secured claim it was entitled to interest. The court, adopting what it acknowledged was the...Read More
1st circuit Nisselson v. Lernout (11/08/06 – No. 05-1774)Dismissal of an action by a bankruptcy trustee to recover damages based in the legal rights of a company that entered into a merger with another company upon that company’s financial misrepresentations is affirmed where the wrongdoing of the second company was, as a matter of law,...Read More
Link to Opinion: http://www.ilnb.uscourts.gov/JudgeBlack/Opinions/Beale.pdf State: Illinois Court: Northern District Division: Eastern Issued: October 16, 2006 Judge: Bruce W. BlackRead More
6th Circuit Bli v. USA Farm Serv. Agency (10/13/06 – No. 05-2292) Appeal dismissed for lack of subject matter jurisdiction where appellant-debtor’s R. 60(b) motion was a nullity so district court had no jurisdiction to consider it, and no valid notice of appeal had been filed from original final order of the district court. 7th...Read More
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...Read More