A decision from the United States Supreme Court penned by Justice Sonia Sotomayor adopted a broad reading of “actual fraud” in section 523(a)(2)(A) of the Bankruptcy Code, which excepts from discharge debts “obtained by . . .
Plenty of ink has been spilled about how to apply the U.S. Supreme Court’s decision in Stern v. Marshall and the line of cases in which it sits. It is a challenging body of law for many reasons, but perhaps the most difficult reason is that the Court indicated that the scope of power that bankruptcy courts may be given today must be defined by reference to beliefs about the scope of judicial and other governmental powers at the time of the country’s founding, when divisions of governmental power were embedded in the U.S. Constitution.
The latest in a line of fraudulent transfer decisions in the Madoff case has added to the case-law regarding what level of knowledge is needed to plead actual fraud in securities Ponzi scheme cases.
Funds passing through a correspondent bank account in New York can create personal jurisdiction over the funds’ recipient, ruled the United States District Court for the Southern District of New York. In Official Committee of Unsecured Creditors of Arcapita Bank B.S.C. v.
In a unanimous decision arising out of the Tribune Media Company bankruptcy cases, a panel of the Second Circuit held that the safe harbor under section 546(e) of the Bankruptcy Code, which precludes avoidance of certain transfers by a
Forgot to Get a Court Order Approving a Postpetition Loan? It May Not Matter
In American Federated Title Corp. v. GFI Management Services, Inc., the United States District Court for the Southern District of New York