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New Cases For the Week of April 14, 2008 - April 18, 2008
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Click here to search prior New Opinion summaries.
| April 15, 2008 |
Case |
Court |
Holding |
In re: AFI Holding, Inc.
(DBN Subscription Required) |
9th Cir. |
In bankruptcy proceedings involving a bankrupt company that had been operated as a Ponzi scheme, summary judgment partially against the bankruptcy trustee avoiding transfers from bankruptcy debtor to appellant-investor is affirmed where: 1) investor's argument that the debtor's transfers were not actually fraudulent failed because the scheme operator's declaration, coupled with the circuit court's treatment of Ponzi schemes in the context of fraudulent transfers, dictated to the contrary; and 2) the district court was correct to conclude that the good faith exception to actually fraudulent transfers was not barred as a matter of law because the investor's right to rescission and restitution were "reasonably equivalent value" as described by prior case law. |
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| April 15, 2008 |
Case |
Court |
Holding |
Smith v. Rockett
(DBN Subscription Required) |
10th Cir. |
Chapter 13 bankruptcy debtors, such as plaintiff, have standing to bring claims in their own name on behalf of the bankruptcy estate. |
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