Early Termination Provision Does Not Apply to Estate Property

In another twist on the evolving interpretation of BAPCPA, a court in Texas has ruled that failure to extend the automatic stay in a subsequent filing does not affect property of the estate that is not claimed by the debtor as exempt. In re Scott-Hood , No. 11-53580 (Bankr. W.D. Tex. 6/15/12), which...

Pilgrim's Pride Opinion Allows Enhancements in Bankruptcy, Offers Comprehensive Overview of Bankruptcy Fees

The Fifth Circuit has affirmed a $1 million fee enhancement to a chief restructuring officer who achieved results described as "rare and exceptional." Matter of Pilgrim's Pride Corp. , No. 11-10774 (5 th Cir. 8/10/12). The opinion can be found here . The Court rejected the argument that...

Fifth Circuit Declines to Apply Judicial Estoppel to Inconsistent Creditor Claims in Subsequent Case

The Fifth Circuit has added a new decision to its judicial estoppel jurisprudence, holding that a creditor that submitted claims in different amounts in successive cases was not estopped. While it may seem that the court is applying the estoppel doctrine in an uneven manner, penalizing debtors but not...

Thinking Outside of the Box on Venue

One benefit of attending conferences is that sometimes you get something unexpected. That happened at the Commercial Law League's New York meeting when the discussion turned to venue. The CLLA has staked out a position in favor of venue reform. You can read the testimony of Peter Califano on behalf...