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New Cases For the Week of August 18, 2008 - August 22, 2008
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Click here to search prior New Opinion summaries.
| August 22, 2008 |
Case |
Court |
Holding |
In re Penrod
(DBN Subscription Required) |
9th Cir. BAP |
When a debtor
trades in a motor vehicle in connection with buying a new one,
and the lender who is financing the purchase assumes the debtor’s
“negative equity” on the trade-in, the lender’s payoff of
the deficiency on the trade-in is not secured by a purchase money
security interest in the new car. The hanging paragraph
protects that portion of the lender’s debt allocable to the car
purchased, and does not protect that portion of the debt that is
allocable to negative equity. |
In re: Cellular 101, Inc.
(DBN Subscription Required) |
9th Cir. |
A party's failure to timely inform the court of appeals of a settlement that it believes disposes of a pending appeal precludes the party from asserting the affirmative defense of settlement and release in a later proceeding. |
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| August 19, 2008 |
Case |
Court |
Holding |
In the Matter of: N A Flash Found. Inc.
(DBN Subscription Required) |
5th Cir. |
In a bankruptcy case, refusal to avoid transfers made by debtor to one of its creditors just prior to its bankruptcy filing is affirmed where under state law, creditor was a beneficiary of a construction trust fund of which debtor was trustee, and would be entitled to full recovery of the funds transferred, even in a Chapter 7 proceeding. |
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