District Court Upholds Constitutionality of San Juan Debt Adjustment Under PROMESA
The city of San Juan unsuccessfully argued that the PROMESA Oversight Board has no fiscal control over municipalities in Puerto Rico.
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First Circuit Explains How to Avoid Liability for an Underfunded Pension Plan
To avoid liability for an underfunded pension plan, the First Circuit describes a structure for investors to employ when buying a sick company
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A Fugitive’s Civil Bankruptcy Appeal Can Be Dismissed, Sometimes
The ‘fugitive disentitlement doctrine’ does not allow a federal court to dismiss an appeal because of a fugitive’s contempt of a state court order, the First Circuit rules.
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First Circuit Starkly Holds that Tuition for an Adult Child Is a Fraudulent Transfer
The case in the appeals court apparently did not involve a student account structured to prevent the college from being the initial recipient of a fraudulent transfer.
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First and Second Circuits Agree: Trustees Alone May Sue Ponzi Scheme Net Winners
Rulings by the First and Second Circuits ensure that recoveries by a Ponzi scheme trustee will be distributed to all victims, not just those who sue on their own.
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First Circuit PROMESA Opinion Addresses the Automatic Stay and Trust Funds
Appeals court says that the bankruptcy court must always address the existence of a trust when ruling on a motion to modify the automatic stay.
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Proceeds of Exempt Property Retain Exempt Status in Chapter 7, District Judge Says
District judge in Maine follows the Fifth Circuit by ruling that the post-petition sale of exempt property does not destroy the exempt status of the proceeds.
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Boston Judge Suggests Procedures for Removing Uncertainty from Section 365(p)
Judge Hoffman’s analysis comports with the ABI Commission’s recommendations for improvements in lease assumptions by chapter 7 debtors under Section 365(p).
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Recent Decisions Deepen and Entrench Circuit Split on Discharging Student Loans
Conflicting standards among the circuits warrant a grant of certiorari to define ‘undue hardship’ required for discharging a student loan.
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First Circuit Puerto Rico Bondholder Opinion Is Primed for Certiorari
Dissenter in the First Circuit recommends that the Supreme Court hear and reverse an opinion allowing Puerto Rico to withhold payments from bondholders.
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