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The Supreme Court's Holding in United Student Aid Funds, Inc. v. Espinosa

Parties challenging a bankruptcy court's final order almost always must take a direct appeal or be forever barred from collateral attack, even when the order contains a clear legal error. Further, when a statute permits a court to act only if certain findings are made or conditions exist, the court...

Divided U.S. Supreme Court: Debtors' Farm Sale Tax Liability Not Dischargeable

WASHINGTON, D.C. - (Mealey's) A divided U.S. Supreme Court ruled 5-4 Monday that the federal income tax liability that resulted from a debtor's post-petition farm sale is not "incurred by the estate" for the purposes of 11 U.S. Code Section 503(b); therefore, it is neither collectible...