Courts Split on Plan Amendments Requiring Substantial, Unanticipated Changes
Eighth Circuit BAP ‘at a minimum’ requires substantial changes in financial condition for a debtor to modify a confirmed chapter 12 plan.
Second Circuit Reverses, Reinstates Purdue’s Nondebtor, Third-Party Releases
The concurring opinion, which is really a dissent, urges the Supreme Court to grant certiorari and resolve the split of circuits on nondebtor releases.
Do Debtors Get to Keep Post-Confirmation Windfalls in Chapter 13?
Chapter 13 scholar Keith Lundin believes that debtors retain inheritances acquired more than 180 days after filing.
Recent Confirmation Issues
Find and Fix the Flaws in Appraisals Before They Are Subjected to Cross Examination
An appraisal was rejected entirely as being ‘inherently unreliable’ when it gave the client the value that the client wanted.
Bankruptcy Judges Agree: Later Developments Don’t Undo Subchapter V Eligibility
The $7.5 million debt cap for Subchapter V doesn’t include the debt of affiliates who file later.
A Statement ‘For Informational Purposes’ Can Still Be a Stay Violation, BAP Says
A BAP strictly enforced the stay against a mortgage servicer who improperly listed a pre-petition debt in the portion of the monthly statement showing the next post-petition payment.
Circuit Splits and Hot Topics with Bill Rochelle and Friends
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Second Circuit Won’t Vacate the Stay Pending Appeal from Voyager’s Confirmation Order
A terse Second Circuit order seems to mean that a stay of a confirmation order pending appeal granted in district court can’t be appealed to the circuit, at least when the appeal is being expedited.