(Bankr. W.D. Ky. Oct. 11, 2016)

Golden Opportunities Fund Inc v Phenomenome Discoveries Inc, 2016 SKQB 306

(6th Cir. Oct. 3, 2016)

The Sixth Circuit affirms the district court’s dismissal of the pensioners’ challenge to the confirmation order entered in the Chapter 9 bankruptcy case filed by the City of Detroit, Michigan. The pensioners filed the action to challenge the plan’s reduction of their benefits. The Court holds that the doctrine of equitable mootness applies. The pensioners did not obtain a stay, the plan has been substantially consummated, and many actions have been undertaken or completed under the plan. Opinion below.

Judge: Batchelder

(Bankr. S.D. Ind. Oct. 6, 2016)

(Bankr. W.D. Ky. Oct. 3, 2016)

(6th Cir. B.A.P. Sep. 30, 2016)

The Ontario Court of Appeal in Meridian Credit Union Limited v Baig¹ made it clear that misinforming a receiver during the purchase of a property, even by omission, will not be tolerated. Purchasers in the context of a receivership have an obligation to ensure that the receiver is aware of all of the facts. The court also took the opportunity to remind corporate directors that they will be held personally responsible for their tortious conduct, even if that conduct was directed in a bona fide manner to the best interests of the company.

(7^th Cir. Sept. 14, 2016)

(Bankr. E.D. Ky. September 14, 2016)

(Bankr. E.D. Ky. Sept. 14, 2016)