Bankruptcy News

News

Financial Services
[05/09] Bancolombia S.A. Announces Unconsolidated Net Income Of Ps 93.1 Billion for the Month of April 2008 Totaling Ps 425.0 Billion for the First Four Months of 2008*
[05/09] Major Accolade as smartfundit.com Named Codie Awards 2008 Finalist By SIIA
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Services
[05/09] SheKnows Names America's Most Extreme Mom for Mother's Day
[05/09] Japan Airlines reduces losses in latest quarter
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Business
[05/09] Texas may claim Amazon owes sales taxes
[05/09] Circuit City allows Blockbuster, Icahn to review books
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Mergers and Acquisitions
[05/09] ATK Notified of Canadian Government Decision to Block Proposed Acquisition of MacDonald, Dettwiler and Associates Information Systems and Geospatial Businesses
[05/09] Icahn prepared to buy Circuit City if Blockbuster can't
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Top Headlines
[05/09] Convicted NYC lawyer sentenced to 25-to-life for murder
[05/09] Microsoft appeals $1.4B EU antitrust fine
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Case Summaries

Bankruptcy Law

[05/08] Reusser v. Wachovia Bank, N.A.
In an action against a bank involving allegations that plaintiffs' were wrongfully evicted and their property improperly foreclosed upon, dismissal of plaintiffs' claims is affirmed where: 1) plaintiffs' section 1983 claims constituted a de facto appeal of a state court decision and were therefore barred by the Rooker-Feldman doctrine; and 2) plaintiffs' collateral attack on a bankruptcy court's jurisdiction was unavailing, and thus, defendant-bank did not violate 11 U.S.C. section 362 in foreclosing on plaintiffs' property.

[05/08] In re: Straightline Invs., Inc.
A judgment under 11 U.S.C. section 549(a) avoiding the transfer to appellant of corporate bankruptcy debtor's accounts receivable which had a face value of approximately $200,600 is affirmed over appellant's claims that: 1) the transfer of accounts receivable was not an avoidable transfer because there was no depletion or diminution of debtor's estate; 2) the transfer was an outright sale of receivables in the ordinary course of business, and the defenses of recoupment and earmarking should apply to bar recovery by the trustee; and 3) even if it was avoidable, the wrong measure of recovery was awarded.

[05/07] In Re: Barroso-Herrans
A bankruptcy court's approval of a settlement presented by the bankruptcy trustee is affirmed where the trustee's reading of certain of debtors' claimed exemptions, as limited to a $4,000 share of proceeds from each of two underlying lawsuits, was objectively reasonable.

[05/06] In re: Slatkin
Summary judgment in favor of bankruptcy trustee, avoiding under 11 U.S.C. section 548(a) and California Civil Code section 3439.04(a) certain transfers made by the debtor during his operation of a Ponzi scheme, is affirmed where: 1) the bankruptcy court did not abuse its discretion in denying appellants-investors' motion for a continuance to conduct further discovery; 2) investors' right to a jury trial was not violated by the grant of summary judgment; 3) the bankruptcy court properly determined that debtor acted with the actual intent to "hinder, delay, or defraud" his creditors; 4) a determination that debtor was not a "stockbroker" under the Bankruptcy Code was proper; and 5) prejudgment interest was properly awarded.

[03/11] In Re: Strack
In Chapter 7 bankruptcy proceedings, a decision finding a particular debt dischargeable is reversed where: 1) the debt arose by reason of debtor's "defalcation," or nonfraudulent default, while he was acting in a fiduciary capacity; and 2) consequently, 11 U.S.C. section 523(a)(4) renders the debt non-dischargeable.
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