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New York Southern District

Losing Competitive Advantage Doesn’t Justify Redacting a Settlement Agreement

Judge Garrity in New York adopts a narrow view of ‘commercial information’ that may be redacted in a court filing.

New York Judge Refuses to Waive Collateralization for Debtors’ Bank Accounts

In a large ‘prepack,’ the debtor was required to spend $80,000 a month for its depository bank to obtain a bond required by Section 345(b).

Rule 2004 Discovery Barred for Use in Litigation Outside Bankruptcy Court

Judge Sean Lane publishes an opinion to nip an improper discovery tactic in the bud.

Religious Contributions Not Considered in Dischargeability of Student Loans

First Amendment doesn’t compel deduction of religious contributions in finding an ‘undue hardship’ justifying the discharge of student loans.

Delay in Appointment of a Foreign Representative Isn’t Fatal to Chapter 15 Recognition

Allegedly repudiating U.S. dollar obligations won’t preclude a finding of property in the U.S., Judge Lane rules.

Freezing a Chapter 7 Debtor’s Bank Account Doesn’t Violate the Automatic Stay

SDNY opinion seems to mean that a bank may freeze a debtor’s entire bank account at filing, without violating the automatic stay.

New York Judge Gives Reasons for Nixing Nonconsensual, Third-Party Releases

Bankruptcy Judge Wiles explains the jurisdictional, statutory and constitutional reasons why nonconsensual releases are improper in the Second Circuit except in exceptional circumstances.

After 12 Losses, Will Madoff Customers Stop Pursuing Claims Belonging to the Estate?

New York district judge is the most recent court to uphold an injunction implementing a $7.2 billion Madoff settlement.

An Adroitly Drafted Makewhole Is Allowable in Bankruptcy, New York Judge Says

Judge Bernstein distinguishes a Second Circuit opinion to rule that a makewhole premium is allowable in bankruptcy.

A Pension Withdrawal Claim Arises Before Withdrawal Occurs, Manhattan Judge Says

Bankruptcy Judge Wiles politely says that the Sixth Circuit reached the correct result for the wrong reason.

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