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New Mexico

Beware: Closing a Case Quickly Can Preclude Filing New Avoidance Actions

Judge Thuma describes nonstatutory exceptions to the statutes of limitations in Sections 546(a) and 550(f).

Postpetition Default on a Mortgage Is a Prepetition Debt for Setoff Purposes

The obligation on a mortgage is incurred when the mortgage is granted, even though the payment default may occur after filing, Judge Thuma says.

Another Judge Allows Switching to the SBRA When a Pending Chapter 11 Is About to Fail

Judge Jacobvitz allows the debtor to proceed under the SBRA more than a year after the initial chapter 11 filing

Two More Judges Rule that Chapter 11 Debtors Are Eligible for PPP Loans

Judge Thuma of Albuquerque threatens the SBA with punitive damages if the debtor is not granted a $900,000 PPP loan.

Courts Are Split on Breach of Contract Resulting in Nondischargeability

In some circuits, never intending to repay a loan can result in nondischargeability under Section 523(a)(6).

Challenging Student Loans Permissible Six Years after Discharge

Destitute debtor allowed to challenge student loans six years after a chapter 7 discharge.

Retention Agreements Allowing Defense Fees Ok in New Mexico, but Not in Delaware

Baker Botts v. ASARCO doesn’t prohibit retention agreements allowing fees for defense of fees, judge holds.

Courts Divided over Jury Trials for Breach of Post-Petition Contracts

Barton, Granfinancier, and Langenkamp should be harmonized with Section 959.

New Mexico Judge Avoids the Jevic Controversy by Requiring Payment on Priority Claims

‘General unsecured creditor’ is an ambiguous term not defined in the Bankruptcy Code or Rules.

Courts Trending Toward Motion Date to Begin Adequate Protection Payments

Courts employ three dates for commencement of adequate protection payments.