Bankruptcy Tweets for April 2011 - Part I

I attached this New Yorker cartoon to my first blog post in October 2005.  Blogging, however, really doesn't lend itself to incessant barking.  Tweeting does.  Back then, I wrote:

So how did this blog start? Well, many know of my personal obsession (spurred on by my legal learning role models Judge Diane Wood and All Star DH Attorney Dick (the "Mick"--and I've got the knees to prove it) Dannenberg) with staying current with developing case law.  During this past summer's dog days, as the "blog-o-sphere" gradually enveloped me, I decided that the world actually needed another blog--one that kept people current on complex bankruptcy litigation case law developments.  So now, as cartoonist Alex Gregory aptly penned, instead of pointless, incessant barking, I'm blogging.

My obsession hasn't changed, but now I'm tweeting instead of blogging, though hopefully not pointlessly so.

Here is a collection of my 31 tweets for the first 11 days of April.  RSS Feeds are also available.

  •  WD PA: Owens-Corning postpetition asbestos claims manifested post-plan conf. were discharged via publication notice.
  • Dist. DE denies Hartford SJ mot. to invoke fraud excep.: disp. facts re Yao fraud & if St. Fin Corp was Ponzi scheme.
  • Great NYT Magazine baseball article for those who love great pitching: "The Phillies’ Four Aces."
  • BK SD IL construes "self-settled or similar device" language of §548(e) in case of first impression nationally.
  • BK NEB: dismissal of small biz case not req'd just bec debtor's 1st plan wasn't confirmed within 45 days of its filing.
  • Read Willett obj. to "defective 9019 theory" & "weak underpinnings" of Lehman plan's proposed substantive consolidation.
  • D-NV: Trustee cant compel turnover of estate prop.unless entity has property or proceeds at time turnover motion filed.
  • Innkeepers: Appaloosa has no standing as "creditor of a creditor." Stalking horse bid procedures ok per Lionel std.
  • New FASB Am. as of 6/15: A creditor’s determination of when loan modifications constitute "troubled debt restructurings."
  • 3d Cir: Kontrick/Bowles/Reed Elsevier confirm that Rule 8002(a) time limit for filing notice of appeal is jurisdictional.
  • SDNY: "Unfinished business doctrine" held to apply to hourly & contingency cases in post-dissolution Coudert adv. proc.
  • K&E advocates putting competing plans & discl. statements in Lehman on parallel tracks to allow concurrent consideration.
  • BK-MD: debtor/guar of loan lacks standing to sue lender for misconduct in underlying loan absent indep harm to guarantor.
  • DCT-HAW: Higher contract default interest rate, not post-jdgmt statutory rate, applies after entry of foreclosure jdgmt.
  • BK-WD-ARK asks whether notice to creditor's prepetition collection atty alone is sufficient notice of claims bar date.
  • Hear 7th Cir arg. re whether secured cr. has statutory right to credit bid claim in debtor's proposed plan asset sale.
  • Say congrat to Geoff Berman-new ABI Prez-but read Mark Berman's 2 updates (w/Brighton) on 2d Lien Fin. & Intercr. Agrs.
  • IL DCT reviews 7th Circuit law, applied to the facts, on the nuances of the ord. course of bus. defense to a preference.
  • ED Mich affirms: stock buyout was a fraudulent tsf bec of lack of reas. equiv. value & too specul. intangible benefits.
  • BK SD Miss in 506(a) valuation hearing finds that cost approach is best bec sales comp. & income approach are unreliable.
  • BK MD: In pari delicto doesn't bar ch 7 trustee's action ag. parties engaging in postpetition fraud or other misconduct.
  • BK-NC values secured claim at property's highest & best use, w/out discount for entrep. profit or cr.'s pfd. disposition.
  • BK-VA: former bd members/adv. defs. denied leave to sue current bd. members derivatively through ctcl. & 3d party action.
  • BK-NJ: Atty lien unenforceable ag. funds collected postpetition bec. atty didn't perfect lien by filing suit prepetition.
  • Hear Lexis-Nexis Real Estate Podcast w/BuckleySandler attys: Robo-Signing Redux: Bankr. Cts. as the Next Battleground.
  • BK-ND Tx: Disgorgement required under §504 for undisclosed comp. sharing with contract attys. Disclosure reqts. outlined.
  • SD Tx reviews Bankruptcy Courts' civil contempt power and their power to enjoin.
  • BK MD: Ct won't follow maj. rule that lien stripping is contingent on debtor's eligibility to receive a Ch. 13 discharge.
  • BK Utah refuses to reach "absurd" result under §546(e) that insulates any avoidable tsf. effectuated through a bank.
  • BK ND CA: Cr. comm. dissolves when case converts to ch.7, so post-conv. services by comm. counsel cant be paid by estate.
  • BK MA: Judge Hillman disagrees with Judge Markell re whether Absolute Priority Rule still applies to indiv. ch. 11 cases.

Thanks for following!

© Steve Jakubowski 2011