Archive for ‘Bankruptcy’
UCC 2-403 Explanation: Alternate BFP argument
- UCC 2-403: Alternate BFPargument.
- When a seller retains interest in property not because he wants the property back but to secure against nonpayment of the debt, it is a secured transaction rather than the retention of title
- Docar =
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11 USC section 548(a)(1)
- 11 USC §548(a)(1) : adopted from the Uniform Fraudulent Transfer Act (UFTA applies outside bankruptcy, UFTA and §548 apply in bankruptcy) Fraudulent Transfers and Obligations
- (a) (1) The trustee may avoid any transfer (including any transfer to or
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Bankruptcy Outline: Assignment of Rights
- Assignment of Rights:
- Seller sells goods in return for buyers promise to pay over time: an installment K. This property right, the installment K, can be sold to the 3rd party (bank, finance company, mfg. co., etc.)
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Duties of the Trustee, Debtor in Possession and Attorney
- Trustee, DIP and Atty duties
- Section 323(a) of the Code states that a trusteein a bankruptcy case “is the representative of the estate.”
- Section 1107(a) of the Code gives …
Bankruptcy Jurisdiction
- Getting into Bankruptcy/Jurisdiction
- §109
- (a) Only a person that resides or has a domicile, a place of business, or propertyin the United States, or a municipality, may be a debtor
- Applies to all chapters
- (b) §101
- (a) Only a person that resides or has a domicile, a place of business, or propertyin the United States, or a municipality, may be a debtor
… - §109
Depetris v. Warnock Case Brief
Depetris v. Warnock Case Brief (NY 2000)
- Thief steals D’s watch and sells to pawnbroker. PB sells to Plaintiff. Plaintiff gives the watch to police for evidence in thief’s trial. Police give the watch back to D. P sues.
- UCC …
Everett v. Perez
- Everett v. Perez (Kozinskiopinion)
- Perez owned a couple franchise taco joints. Everett hired to remodel one. P couldn’t pay, so filed bankruptcy.
- Got a plan confirmed via cramdown. Claim was for 40k, but aggrieved creditor would
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Wheeler Case: Bankruptcy
- Wheeler case—
- Debtor gets discharge, but later charged for bankruptcy fraud. For not including all assets. D sues atty who represented him.
- Malpractice claim becomes property of the estate because the actions giving rise to malpractice claim occurred
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Nat’l Westminster Bank NJ v. Anders Engineering Inc. Case Brief
- Nat’l Westminster Bank NJ v. Anders Engineering Inc. Case Brief
- E&KAnders (for debt forgiveness of individual debt of E). AndersChaj (for 55k). Creditor of E&K sues A and C—alleged innocent parties.
- Holding 1: An insolvent pship (E&K) transfer to a
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