10th Circuit

Bankruptcy Doesn’t Automatically Accelerate a Mortgage, State Supreme Court Says

A discharge in bankruptcy by itself does not start the statute of limitations running on a defaulted mortgage, Colorado Supreme Court holds.

Survivor’s Benefits Under a Pension Plan Might Not Become Estate Property

Unlike Clark v. Rameker, where an inherited IRA wasn’t exempt, the inheritance of benefits under a pension plan might not become estate property under Section 541(c)(2).

Tenth Circuit Doesn’t Pay ‘13’ Trustee if Dismissal Precedes Confirmation

The first court of appeals to rule on a question where lower courts are split, the Tenth Circuit finds the statute unambiguous and requires a chapter 13 trustee to disgorge his or her fee if the case is dismissed before confirmation.

Lack of Familiarity with PACER Is No Excuse for a Late Filing, Tenth Circuit Says

Some tasks are too complex for lawyers and should be performed by paralegals.

A DIP’s Lawyer Can Later Become Adverse to a Chapter 11 Liquidating Trust

Judge David Thuma explains why a chapter 11 debtor in possession and a subsequent liquidating trust are different clients for the purpose of a conflict analysis, at least when the committee has confirmed a liquidating plan.

The Bankruptcy Code Doesn’t Invalidate Transfer Restrictions in an Operating Agreement

The transfer restrictions in an LLC’s operating agreement are enforceable in a bankruptcy sale, the Tenth Circuit BAP says.

A ‘Letter Box’ Company Is Denied Foreign Main and Nonmain Recognition in Chapter 15

Being registered, plus having directors and an address, on the Isle of Man wasn’t sufficient to show COMI or an ‘establishment’ justifying recognition under chapter 15.

Otherwise Valid Post-Petition Claims Sometimes Won’t Qualify for Administrative Status

Judge Sarah Hall declined to expand the exception in Reading for post-petition claims to have administrative status.

Debtor Retains Appreciation in Nonexempt Property Sold During Chapter 13

Judge Rosania answered a question left open by the Tenth Circuit in Barrera.

Salary Paid by a Ponzi-Schemer Isn’t Necessarily a Fraudulent Transfer, Circuit Says

The Tenth Circuit dealt with the thorny question of which expenses paid by a Ponzi-schemer are fraudulent transfers.