Class claims against Owens Corning weren’t discharged 
Published: May 22, 2012
Tags: breach of warranty, Chapter 11, class action, fraud, negligence, strict liability
A class claims seeking damages for alleged defects in Owens Corning roofing shingles were not discharged by the company’s Chapter 11 bankruptcy case, the 3rd Circuit has ruled in reversing a summary judgment.
Bankruptcy filings continue downward trend
By:
Kimberly Atkins
Published: May 18, 2012
Tags: bankruptcy filings, Federal courts
WASHINGTON – After years of record-breaking numbers of bankruptcy filings, the recent trend of declining filings continues, based on the most recent figures released by the Administrative Office of the U.S. Courts.
Bill to temporarily extend bankruptcy judgeships passes
Published: May 16, 2012
Tags: bankruptcy court, bankruptcy judges
WASHINGTON – Congress has passed legislation that will temporarily save dozens of bankruptcy judgeships in 14 states and Puerto Rico from expiring.
Farm sale income tax not dischargeable in bankruptcy
Published: May 14, 2012
Tags: Bankruptcy, Chapter 12, discahrge, farms, Supreme Court
The federal income tax liability resulting from the sale of a farm after a Chapter 12 bankruptcy filing is not “incurred by the estate” under §503(b) of the Bankruptcy Code and thus is neither collectible nor dischargeable in the bankruptcy plan, the U.S. Supreme Court has ruled.
Asbestos policies can be assigned in bankruptcy
Published: May 3, 2012
Tags: Chapter 11, product liability
Liability insurers could not enforce anti-assignment clauses in their policies when their policyholder sought relief in bankruptcy from asbestos claims, the 3rd Circuit has ruled in affirming judgment.
Post-petition home sale proceeds included in bankruptcy estate
Published: April 27, 2012
Tags: Chapter 7, homestead exemption
The proceeds from a couple’s post-petition sale of their homestead must be included in their bankruptcy estate, the 9th Circuit has ruled.
Non-compliant plan is exempt in bankruptcy
Published: April 27, 2012
Tags: Chapter 7, Internal Revenue Code, Keough retirement plan, retirement plan
A retirement plan that was not technically “tax qualified” under federal law is exempt from the taxpayer’s bankruptcy estate, the 10th Circuit has ruled in applying Utah law.
Civil rights suit barred by nondisclosure in bankruptcy
Published: April 24, 2012
Tags: Chapter 7, civil rights, Fourth Amendment, search and seizure
A homeowner could not sue police for conducting illegal searches of his properties because he failed to disclose the lawsuit in his Chapter 7 bankruptcy case, the 1st Circuit has ruled in affirming a dismissal.
Justices tackle credit-bidding in bankruptcy ‘cramdown’ plan
By:
Kimberly Atkins
Published: April 23, 2012
Tags: Bankruptcy, Chapter 11, credit bid, secured creditor, Supreme Court
WASHINGTON – The justices of the U.S. Supreme Court took up a complicated bankruptcy case Monday, parsing the language of the Bankruptcy Code to determine if a Chapter 11 debtor must give a secured creditor the right to credit bid items being sold at auction.
Debtor can’t discharge award for loss of consortium
Published: April 23, 2012
Tags: Chapter 7, loss of consortium
A Chapter 7 debtor could not obtain a bankruptcy discharge of a $300,000 award for loss of consortium stemming from the attempted murder of his ex-wife, the 7th Circuit has ruled in affirming judgment.
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