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5th Circuit

No Statute of Limitations for Suing on a Trustee’s Surety Bond

Removing and discharging a trustee are not synonymous, Houston judge rules.

Fifth Circuit Insulates Ds&Os for Authorizing Prebankruptcy Dividends and Bonuses

To avoid dismissal, a complaint must allege each officer’s acts that breached fiduciary duty.

A Future Advance Clause Saved a Loan from Being Unperfected

Potential harm to the debtor is not a factor in deciding to avoid an unperfected lien.

ASARCO Read to Bar Fee-Defense Costs Even with a Fee-Shifting Agreement

Court shows antipathy to all theories seeking allowance of fees incurred in collecting fees.

Counsel Must Eat Filing Fees in ‘No-Money-Down’ Chapter 13s

Lawyers can’t be reimbursed for advancing filing fees through fee applications or ‘no-look’ fees.

Reversing Itself, Fifth Circuit Panel Reinstates Finality to Exemptions in Chapter 7

After rehearing, the Fifth Circuit rediscovers the snapshot rule by giving finality to exemptions in chapter 7.

Rehearing Petition Attacks Fifth Circuit Opinions Stripping Exemptions of their Finality

Petition characterizes Fifth Circuit as standing alone by rejecting the ‘snapshot rule' for exemptions.

Exempt Assets Aren’t Always Exempt in Chapter 13

Courts are split on including some exempt assets into the calculation of disposable income.

IRA Sold After Filing Loses Its Exemption in Chapter 7, Not Just Chapter 13

Fifth Circuit rule effectively precludes selling exempt property until the case is closed, if not later.

Co-Conspirator’s Intent Is Enough for Nondischargeability, Fifth Circuit Holds

A ‘no harm, no foul’ stay violation is harmless error.