Pleading hierarchical control is insufficient for substantive consolidation.
Eighth Circuit says bankruptcy adequately protects debtors from assertion of stale claims.
Eighth Circuit B.A.P. majority allows collection of disallowed priority claims.
Judge resuscitates Petters suits to recover fictitious profits paid in a Ponzi scheme.
Petters bankruptcy spawns another monumental Ponzi scheme opinion.
To protect debtors from unscrupulous lenders, courts drive up the cost of chapter 13.
Can substantive consolidation eradicate a defendant’s affirmative defense?
Clever debtor’s lawyer trots out Bankruptcy Act concepts but loses.
Exemptions are not always fixed on the date of filing.