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New Cases For the Week of March 10, 2008 - March 14, 2008
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Click here to search prior New Opinion summaries.
| March 14, 2008 |
Case |
Court |
Holding |
Drive Fin. Servs., L.P. v. Jordan
(DBN Subscription Required) |
5th Cir. |
An order amending and confirming debtors' Chapter 13 bankruptcy plan, which provided for interest on appellant-creditor's secured claim on their pickup truck at a "prime-plus" interest rate, is affirmed where: 1) Congress did not supercede Till v. SCS Credit Corp., 124 S. Ct. 1951 (2004), when it passed the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA); 2) the Till plurality's adoption of the prime-plus interest rate approach is binding precedent in cases presenting an essentially indistinguishable factual scenario; and 3) thus, the bankruptcy court properly rejected creditor's objections to the interest rate. |
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| March 13, 2008 |
Case |
Court |
Holding |
In re Airadigm Communications, Inc.
(DBN Subscription Required) |
7th Cir. |
If a secured creditor participates in a Ch.11 bankruptcy case, and the confirmed plan does not deal with the secured claim, the lien can be extinguished. However, a plan cannot "deal with" a security interest in a airwave spectrum license if everyone in the bankruptcy case erroneously believed that the licenses had been validly cancelled pre-petition. |
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| March 12, 2008 |
Case |
Court |
Holding |
LaSala v. Bordier et Cie
(DBN Subscription Required) |
3rd Cir. |
The Securities Litigation Uniform Standards Act (SLUSA) is no impediment to federal adjudication of either: 1) state law aiding-and-abetting-breach-of-fiduciary duty claims, which have passed from a corporation to its bankruptcy estate to a trust; or 2) claims against foreign entities under foreign law for aiding and abetting money laundering brought by trustees, as assignees of individual investors in the bankrupt enterprise. |
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