Judge Approves McDermott Debt Restructuring Plan
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Plan Confirmation
Cramdown Must Not Put the Secured Creditor at Risk, Ninth Circuit BAP Says
Permanently reducing the claim by the appraised value without a backstop means the creditor isn’t receiving the ‘indubitable equivalent,’ BAP says.
Court:
Mortgage Servicer Hit with $300,000 in Actual and Punitive Damages for Stay Violation
The creditor was guilty of an automatic stay violation, but Taggart insulated the creditor from liability for a discharge violation for continuation of the same conduct.
Court:
Ninth Circuit Equivocates on ‘Collection Injunctions’ in Individual Chapter 11s
Dissenter in the Ninth Circuit says that utilizing provisions in the Bankruptcy Code is not bad faith barring confirmation.
Court:
HAVEN Act May Be Employed to Reduce Payments Under a Confirmed Chapter 13 Plan
Judge Shefferly writes a complicated opinion on the retroactivity of the HAVEN Act to cases filed prior to enactment.
Judge’s Rulings Preserve McClatchy’s Timeline for Exiting Chapter 11
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EP Energy Wins Approval to Leave Bankruptcy With $3.3 Billion Less Debt
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To Avoid U.S. Trustee Fees, Court Liberally Allows Closing a Case After Confirmation
Pending adversary proceedings don’t preclude a finding that the chapter 11 case has been ‘fully administered,’ thus allowing entry of a final decree and cutting off further fees owing to the U.S. Trustee Program.
Court:
Must a Debtor Be Destitute Before Discharging Student Loans?
Unemployed for 16 months, surviving on food stamps, and living rent-free enabled a debtor to discharge student loans.
Fifth Circuit Opinion Shows How Not to Represent a Creditor at Confirmation
Sovereign immunity won’t prevent the bankruptcy court from extinguishing a state’s easement over a debtor’s property.
Court: