(United States Seventh Circuit) - Held that the receiver for a failed bank, the Federal Deposit Insurance Corporation, did not have to honor a benefits agreement with a bank executive, because the benefit he sought was a golden-parachute payment prohibited by federal law. Affirmed summary judgment for the FDIC.
(United States Ninth Circuit) - Held that the time period in which a creditor could execute on an Order for Appearance and Examination (ORAP) lien was tolled during the automatic stay. Affirmed the Bankruptcy Appellate Panel's decision and remanded for further proceedings.
(United States Ninth Circuit) - Affirmed that Chapter 11 of the Bankruptcy Code did not permit the co-founders of several real-estate management companies to discharge a debt arising from a state-court judgment for fraud and misrepresentation. The central issue in this case was whether the individuals continued to engage in business after consummation of the […]