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2nd Circuit

Second Circuit Explains when Default Judgments Qualify for Issue Preclusion

Discovery abuse in a prior lawsuit can result in nondischargeability in a later bankruptcy.
Court: 

Immediately Withdrawing the Reference Is ‘Absurd,’ District Judge Says

Defendants in lawsuits by Lehman Brothers are stuck in bankruptcy court until the cases are ready for a jury trial.

Losing Competitive Advantage Doesn’t Justify Redacting a Settlement Agreement

Judge Garrity in New York adopts a narrow view of ‘commercial information’ that may be redacted in a court filing.

Second Circuit Defines a Prohibited Double Recovery on Fraudulent Transfers

There is no prohibited double recovery from multiple defendants, the appeals courts says, until the trustee has recovered cash equaling the value of the fraudulently transferred property.
Court: 

Trustee Allowed to Sue for Fraudulent Transfer on an Unenforceable Contract

Long Island’s Judge Grossman follows the Third Circuit by finding limitations on the Rooker-Feldman doctrine.

New York Judge Refuses to Waive Collateralization for Debtors’ Bank Accounts

In a large ‘prepack,’ the debtor was required to spend $80,000 a month for its depository bank to obtain a bond required by Section 345(b).

Second Circuit Opinion Raises Questions Left Open by Taggart v. Lorenzen

If a lower court buys an argument that’s clearly wrong, is the argument nonetheless ‘objectively reasonable?’ And does Taggart apply to an automatic stay violation?
Court: 

Rule 2004 Discovery Barred for Use in Litigation Outside Bankruptcy Court

Judge Sean Lane publishes an opinion to nip an improper discovery tactic in the bud.

Religious Contributions Not Considered in Dischargeability of Student Loans

First Amendment doesn’t compel deduction of religious contributions in finding an ‘undue hardship’ justifying the discharge of student loans.

Delay in Appointment of a Foreign Representative Isn’t Fatal to Chapter 15 Recognition

Allegedly repudiating U.S. dollar obligations won’t preclude a finding of property in the U.S., Judge Lane rules.

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