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Bankruptcy Law

May 27, 2010

Bankruptcy: Non-Dischargeable Debt – Fraud – Justifiable Reliance

Islamov v. Ungar (MLW No. 60671/Case No. 09-6065 – 10 pages) (U.S. Bankruptcy Appellate Panel, Schermer, B.J.) Where a debtor continuously gave a creditor false information about her stock trading activities and the alleged profits she was making on his investment with her, and the creditor trusted the debtor’s misrepresentations to the extent that he […]

May 16, 2010

Bankruptcy: Priority – Perfection Of Lien – Financing Statement

Hastings State Bank v. Stalnaker, et al. (Case No. 10-6001 – 15 pages) Where a bank’s financing statement added “d/b/a” information as a part of a debtor’s name, the bankruptcy court properly held that the bank’s lien against the debtor’s assets was not properly perfected and another creditor’s lien could take priority because the financing […[...]

May 13, 2010

Bankruptcy: Dischargeability – Personal Liability – Corporate Veil

R&R Ready Mix v. Freier (MLW No. 60596/Case No. 09-1916 – 9 pages) (U.S. Court of Appeals, 8th Circuit, Melloy, J.) Where evidence showed that a debtor operated his contracting company as a façade through which he obtained personal benefits, piercing the corporate veil was appropriate, and a debt to a supplier-creditor remained the personal […]

May 13, 2010

Bankruptcy: Consumer Debt – Unsigned Loan Documents – Abusive Filing

Lapke v. Mutual of Omaha Bank (MLW No. 60601/Case No. 10-6008 – 10 pages) (U.S. Bankruptcy Appellate Panel, Schermer, B.J.) Where a debtor argued that two bank home loans were not consumer debt solely because he failed to sign certain loan documentation, the debtor’s home was collateral for the loans and the loans were for […]

May 6, 2010

Bankruptcy: Discovery Sanction – Default Judgment – Pro Se Debtor

Harmon Autoglass Intellectual Property v. Leiferman (MLW No. 60563/Case No. 10-6007 – 6 pages) (U.S. Bankruptcy Appellate Panel, Federman, B.J.) Where a Chapter 7 debtor repeatedly refused to answer questions from a creditor about his assets and the bankruptcy court repeatedly advised him that sanctions and a default judgment against him could result, the debtor’s […]

Apr 26, 2010

Bankruptcy: Modified Plan – Required Payments – Plan Base

McCarty v. Jenkins (Case No. 09-6064 – 8 pages) Where a bankruptcy court found that debtor had completed the payments required by his plan but the trustee objected, arguing that each time the debtor modified the amount of his monthly payment plan, the total amount to be paid increased, the debtor’s testimony clarified the terms […]

Apr 15, 2010

Bankruptcy: Student Loans – Dischargeability – Undue Hardship

Walker v. Sallie Mae Servicing Corp., et al. (MLW No. 60477/Case No. 09-6022 – 24 pages) (U.S. Bankruptcy Appellate Panel, Federman, B.J.) (1) Where a debtor did not seek a determination that her student loans were dischargeable until three years after a general discharge was ordered in her Chapter 7 case and the student loan […]

Apr 15, 2010

Bankruptcy: Fraud – Intent – Mortgage Interests

Marcusen v. Glen (MLW No. 60478/Case No. 09-6029 – 11 pages) (U.S. Bankruptcy Appellate Panel, Schermer, B.J.) Where creditors who participated in a residential construction project with debtors argued that their debt should be excepted from discharge on the basis of fraud, if the creditors had properly recorded mortgages on the properties, liens to a […]

Apr 15, 2010

Bankruptcy: Exemption – IRA Account – Retirement Funds

Doeling v. Nessa (MLW No. 60480/Case No. 10-6009 – 6 pages) (U.S. Bankruptcy Appellate Panel, Schermer, B.J.) Where a Chapter 7 debtor claimed an exemption in an inherited IRA account, the bankruptcy court properly overruled the trustee’s objection to the debtor’s claim because the money qualified as “retirement funds” under Section 522(d)(12) even though it […[...]

Apr 15, 2010

Bankruptcy: Aircraft Lease – Notice

Bremer Bank v. John Hancock Life Insurance Company (MLW No. 60472/Case No. 09-2250 – 12 pages) (U.S. Court of Appeals, 8th Circuit, Murphy, J.) Where plaintiff brought an action arguing that its equity in an airplane and its lease were improperly extinguished by a creditor following the airline’s bankruptcy filing, summary judgment for the defendants […]

Apr 8, 2010

Bankruptcy: Special Counsel – Conflict Of Interest – Transfers

Blumenthal v. Myers (MLW No. 60451/Case No. 10-6002 – 12 pages) (U.S. Bankruptcy Appellate Panel, Venters, B.J.) Where a trustee sought to employ an attorney as special counsel, the attorney’s representation of petitioning creditors created interests adverse to the bankruptcy estate because the attorney would be required to investigate potentially fraudulent transfers received by his [[...]

Apr 8, 2010

Bankruptcy: Marital Settlement Agreement – Hold Harmless Provision – Dischargeability

Wallace v. Marble (MLW No. 60454/Case No. 09-6079 – 6 pages) (U.S. Bankruptcy Appellate Panel, Kressel, C.J.) Where a debtor and his ex-wife were sued for breach of an indemnity agreement, and the  debt under the indemnity agreement had been discharged in his bankruptcy case, the bankruptcy court did not err in finding that the […]

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