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Category: Trustees

$5.9 Million in Payments to Golf Channel Declared Out of Bounds

The Fifth Circuit Court of Appeals recently issued a decision that should make defendants in Ponzi cases shiver in their boots.  The court said that the defendant, the Golf Channel, had to return nearly $6 million and that it could not take advantage of a commonly-invoked “reasonably equivalent value&rdquo...

9th Circ. Panel Bolsters Trustees’ Reach-Back Powers

Editor’s note: this post originally appeared in Law360 . In a recent decision, the United States Bankruptcy Appellate Panel of the Ninth Circuit resolved what it described as an issue of “first impression” in the Ninth Circuit — whether or not the two-year statute of limitations provided by Section 546(a...

Law Firm “Clawback” Suit Goes to Ninth Circuit

Bankruptcy Judge Dennis Montali in San Francisco said last week that he will allow a direct appeal to the Ninth Circuit from one of his rulings in the bankruptcy of Howrey LLP, skipping an intermediate appeal to the U.S. District Court.  The judge relied on  Jewel v. Boxer  — a...

Report from the BHBA’s Review of the Three Bankruptcy-Related Supreme Court Decisions

The Beverly Hills Bar Association’s Bankruptcy Section recently held a program discussing the three recent bankruptcy-related Supreme Court decisions:  Law v. Siege l ,  Executive Benefits Insurance Agency v. Arkison (In re Bellingham)  (redux of  Stern v. Marshall ), and  Clark v. Rameker  (regarding inherited IRAs and exemptions).  The program was...