Judge Easterbrook

In re New Energy Corp.

Ruling: 
Non-creditor that did not bid lacked standing to contest sale of debtor's assets.
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Commercial case opionion summary, case decided on January 15,2014, LexisNexis #0214-008

In re Heffron-Clark

In the bankruptcy proceeding initiated by bankruptcy debtor and her husband, a bankruptcy judge held that an inherited IRA did not represent retirement funds in the hands of the debtor and so was not exempt under 11 U.S.C.S. § 522(b)(3)(C) and (d)(12). A district judge of the United States District Court for the Western District of Wisconsin reversed. The bankruptcy trustee appealed.
Ruling: 
Inherited IRA was not "retirement funds" and was not exempt.
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Consumer case opionion summary, case decided on April 23,2013, LexisNexis #0513-044

Krieger v. Educational Credit Mgmt. Corp. (In re Krieger)

Plaintiff debtor's entitlement to a discharge in bankruptcy was unquestioned. Defendant creditor asked the bankruptcy judge to exempt the debtor's student loans from the discharge, relying on 11 U.S.C.S. § 523(a)(8). The bankruptcy court granted the discharge. The United States District Court for the Central District of Illinois reversed and held that the educational debt could not have been discharged. The debtor appealed.
Ruling: 
District court erred in reversing discharge of student loan debt.
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Consumer case opionion summary, case decided on April 10,2013, LexisNexis #0513-015

In re Canopy Fin. Inc.

In a claw-back action by a receiver on behalf of plaintiff debtor, a default judgment was entered against defendant casino for plaintiff's monies spent by two of its officers, who were later convicted of fraud. When plaintiff executed on the judgment, defendant moved under Fed. R. Bankr. P. 9024 to vacate the default. A bankruptcy judge denied the motion. The U.S. District Court for the Northern District of Illinois affirmed. Defendant appealed.
Ruling: 
Transferee could not vacate default in avoidance proceeding where it did not supply necessary precedent to district court.
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Commercial case opionion summary, case decided on February 28,2013, LexisNexis #0313-104

Sunbeam Prods. v. Chicago Am. Mfg. LLC

A trustee for debtor trademark licensor sold the debtor's business to a buyer and rejected a seasonal license with defendant licensee under 11 U.S.C.S. § 365(a). Buyer sued the licensee for continuing to make and sell debtor-branded goods. The U.S. Bankruptcy Court for the Northern District of Illinois, Eastern Division, allowed the licensee to continue to make and sell the goods for the season. The buyer appealed.
Ruling: 
Rejection of seasonal license did not abrogate licencee's contractual rights.
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Commercial case opionion summary, case decided on July 09,2012, LexisNexis #0812-012

Peterson v. McGladrey & Pullen LLP

Appellant, a trustee of a group of mutual funds that entered bankruptcy, appealed the judgment of the district court for the northern district of Illinois that dismissed an action against appellees, the funds' auditor and some affiliated entities, that contended the auditor was negligent in failing to discover that the funds invested in businesses that were involved in a Ponzi scheme.
Ruling: 
Dismissal of trustee's proceeding on behalf of debtor mutual funds against auditor for failure to discover Ponzi scheme vacated.
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Commercial case opionion summary, case decided on April 03,2012, LexisNexis #0412-122

United States v. Buchman

Plaintiff United States filed suit against defendant debtor in the United States District Court for the Eastern District of Wisconsin to foreclose mortgages. A default judgment was entered, and a sale was held. The debtor moved to set the sale aside. The district court denied the motion, confirmed the sale, and entered a deficiency judgment. The debtor appealed.
Ruling: 
District court properly refused to set aside foreclosure sale of debtor's property.
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Consumer case opionion summary, case decided on May 16,2011, LexisNexis #0611-039

Paloioan v. Lasalle Bank

The District Court for the Northern District of Illinois, Eastern Division, affirmed a bankruptcy court's finding that a debtor hospital was insolvent by 1997 but that plaintiff bankruptcy trustee could not recover, as fraudulent conveyances, payments made to defendant investment pool trustee (IPT) because the IPT was paid by the debtor's accounts receivable factor. Both sides appealed.
Ruling: 
Denial of recovery of alleged fraudulent transfer vacated and remanded for redetermination of debtor's insolvency.
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Commercial case opionion summary, case decided on August 27,2010, LexisNexis #0910-105

United Air Lines Inc. v. Regl Airports Improvement Corp.

Appellant lenders challenged a judgment of the United States District Court for the Northern District of Illinois, affirming the bankruptcy court's implementation of the confirmed plan of reorganization of appellee debtor, an airline.
Ruling: 
Order for implementation of confirmed plan reversed due to improper valuation of collateral.
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Commercial case opionion summary, case decided on May 06,2009, LexisNexis #0609-098

In re Kuehn

Appellee debtor filed a bankruptcy petition. Appellant creditor, a university, refused to issue the debtor a transcript while her case was pending and refused to do so again after her tuition debt to the creditor was discharged, 11 U.S.C.S. § 727. The bankruptcy court ordered the creditor to provide a transcript and to pay damages and attorneys' fees. The District Court for the Western District of Wisconsin affirmed. The creditor appealed.
Ruling: 
University's refusal to provide transcript to debtor was an act to collect a debt in violation of discharge injunction.
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Consumer case opionion summary, case decided on April 16,2009, LexisNexis #0609-033

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