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8th Circuit

Bankruptcy Judge Sidesteps State Prohibition Against Ponzi Scheme Presumptions

Judge resuscitates Petters suits to recover fictitious profits paid in a Ponzi scheme.

Substantive Consolidation Does Not Supply Actual Creditor for 544(b) Suit

Petters bankruptcy spawns another monumental Ponzi scheme opinion.

Courts Disagree on Necessity for Court Approval of New Debt in Chapter 13

To protect debtors from unscrupulous lenders, courts drive up the cost of chapter 13.

Eighth Circuit Holds that Loss of a Defense Does Not Give Standing to Appeal

Can substantive consolidation eradicate a defendant’s affirmative defense?

WARN Act Claims Entitled to Class Status

Arkansas district judge sides with workers on WARN claims from mass firings.

Eighth Circuit Ignores Supreme Court’s Loose Language in Harris

Clever debtor’s lawyer trots out Bankruptcy Act concepts but loses.

An Inherited Home Can Be Covered by the Homestead Exemption

Exemptions are not always fixed on the date of filing.

Judge Writes a Treatise on Provisional Overdrafts and Preferences

No debt, and thus no preference, arises until after the midnight deadline.

Varying Standards on Informal Claims Beg for Resolution in the Supreme Court

Same facts on informal proofs of claim yield different results in different circuits.

Eighth Circuit Requires Debtors to Disclose Suits Arising after Filing

Disclosing a lawsuit after chapter 13 discharge is too late to avoid judicial estoppel.