In the seemingly never-ending post-Stern quest to elucidate what constitutes a “core” versus “non-core” matter – and exactly what impact that distinction has on the bankruptcy court’s authority to enter a final judgment – the Bankruptcy Court for the Southern District of New York recently set out to answer the question of whether a claim for intentional infliction of emotional distress properly is cons
Lien stripping is a topic that has frequently been in the bankruptcy news this summer in light of the Supreme Court’s recent decision in Bank of America v.
In melodramatic movie weddings, guests are urged, before the couple is joined in matrimony, to “speak now or forever hold their peace” (although this phrase never seems to work its way into actual wedding ceremonies – presumably because there are no longer legitimate objections to a marriage that guests should be voicing at the wedding).
Executive Summary
In January 2020, we analyzed a split among the Circuit Courts regarding whether a non-debtor holding a debtor’s property on the petition date has an affirmative obligation under section 362(a)(3) of the Bankruptcy Code to return that property to the debtor immediately following the filing of the bankruptcy petition.
The United States Supreme Court has granted certiorari on an issue that has greatly divided Circuit Courts of Appeal – the question of whether an entity that retains possession of a debtor’s property has an affirmative obligation to return that property to the debtor or trustee immediately upon the filing of the bankruptcy petition or risk being in violation of the automatic stay.