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New Cases For the Week of August 25,
2003 - August 29, 2003
Brought to you by BKINFORMATION.COM
- The Source for Business Bankruptcy Information on the Internet
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August
26, 2003
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Case
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Court
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Holding
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In
re Popkin & Stern
(DBN Subscription Required) |
8th
Cir. |
A
malpractice claim against a bankrupt law
firm was asserted before the firm
dissolved, making the firm's insurer
liable for payment of the claim. |
In
re Odom Antennas, Inc.
(DBN Subscription Required) |
8th
Cir. |
Although
any party in interest generally has
standing to pursue a claim objection, the
debtors lacked authority to attempt to
disallow or subordinate secured
penalty-type claims using sections 502(d)
and 724(a). The 724(a) lien
avoidance power can only be
exercised by a trustee, per the Supreme
Court's decision in Hartford
Underwriters Ins. Co. v. Union Planters
Bank, 530 U.S. 1, 6 (2000).
Allowing a debtor to exercise the lien
avoidance power under the rubric of 502(d)
would thwart the Code's exclusive
reservation of the power to trustees. |
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