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New Cases For the Week of March 4, 2002 -
March 8, 2002
Brought to you by BKINFORMATION.COM
- The Source for Business Bankruptcy Information on the Internet
March
8, 2002
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Case
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Court
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Holding
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MAC
Panel Company v. Virginia Panel Corp.
(DBN Subscription Required) |
4th Cir. |
The
appeal court did not err in dismissing an appeal of a
confirmation order as equitably moot after the plan had been
substantially consummated. |
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March
7, 2002
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Case
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Court
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Holding
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In
re First City Bancorporation of Texas
(DBN Subscription Required) |
5th Cir. |
The
bankruptcy court did not err in imposing monetary sanctions
against an attorney who described parties in interest as (1) a
stooge; (2) a puppet; (3) a weak pussyfooting deadhead who had
been dead mentally for ten years; (4) various incompetents;
(5) inept; (6) clunks; (7) falling all over themselves, and
wasting endless hours; (8) a bunch of starving slobs; and (6)
an underling who graduated from a 29th-tier law school. |
In
re Murphy
(DBN Subscription Required) |
5th Cir. |
A
loan advanced to a student for educational purposes is a
student loan for nondischargeability purposes even if the
student uses the funds for purposes that are arguably not
directly related to his education. |
In
re Morehead
(DBN Subscription Required) |
4th Cir. |
The
right to receive payments under a privately purchased
disability insurance policy is partially exempt from the
bankruptcy estate under W. Va. Code S 38-10-4(j)(5) rather
than fully exempt under S 38-10-4(j)(3). There is no basis to
assume that payments under such a policy will necessarily or
likely be limited to amounts reasonably necessary for the
support of the debtor and his dependents. |
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March
5, 2002
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Case
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Court
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Holding
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Young
v. United States
(DBN Subscription Required) |
Sup.
Court |
The
three-year period in 11 USC 507(a)(8)(a)(i) is equitably
tolled during the pendency of a prior bankruptcy. |
In
re Walter
(DBN Subscription Required) |
6th Cir. |
When
a discrepancy in an order resulted from the mistake of counsel
and the bankruptcy court's own oversight (counsel neglected to
draw the bankruptcy court's attention to a second paragraph
requiring a change), this was a "clerical error"
warranting relief from the order under Rule 60(a) more than
one-year after the order was entered. |
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March
4, 2002
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Case
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Court
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Holding
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In
re Mortgage Venture Fund
(DBN Subscription Required) |
2d Cir. |
New
York law does not recognize a Ponzi exception to usury.
If a transaction between a Ponzi perpetrator and a
lender/victim is usurious under New York law, the loan is
subject to the same consequences as other usurious loans. |
In
re Geneva Steel
(DBN Subscription Required) |
10th
Cir. |
The
Bankruptcy Code's subordination of securities claims applies
to claims arising from fraud in inducing retention of a
security as well as fraud in purchasing a security |
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