7th Circuit

Notre Dame Football Tickets Are Not Exempt Property, South Bend Judge Holds

Notre Dame football tickets are not necessary for a fresh start.

Seventh Circuit Opines on Method for Calculating ‘New Value’ Defense

Average daily sales suffice to show the date when new value was advanced.
Court: 

Reperfecting a Mortgage Isn’t Grounds for a Fraudulent Transfer

Mistakenly cancelling a mortgage can result in a preference but not a fraudulent transfer if the cancellation is later rescinded.

Existence of a Committee Precludes Tolling the Statute for Adverse Domination

The statute is tolled only if the creditors’ committee is denied standing to sue.
Court: 

Seventh Circuit Requires Stern Consent from Unserved Defendants in Non-Core Suits

Seventh Circuit complicates life for bankruptcy judges in deciding a case involving magistrates.
Court: 

Chapter 13 Debtor Held to Lack Standing to Prosecute a Claim on an Exempt Asset

Judge fails to distinguish between cases in chapter 7 and chapter 13.

Chapter 13 Debtors May Prorate Tax Refunds in Calculating Plan Payments

Chapter 13 trustees aren’t always entitled to a turnover of tax refunds.

Allowing WARN Claims in Liquidating Chapter 11s, Chicago Judge Splits with Third Circuit

Judge adheres to plain language of agency commentary as though it were a statute.

For Insufficient Notice, a Recorded Right of First Refusal Survived a Sale

Constructive notice deprived a purchaser of ‘bona fide’ status.

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