On June 9, 2014, while the Bankruptcy Bar waited with bated breath, Justice Thomas delivered the long-anticipated opinion of the unanimous Court in Executive Benefits Insurance Agency v. Arkinson. While the Supreme Court answered the question of […]
A recent, troubling decision by the United States Bankruptcy Court for the Southern District of California in Gladstone v. Bank of America (In re Vassau) concluded that alleged preferential payments made to a fully secured creditor might be recovered […]
Rolex sued Harry P. Goaz in federal court for various causes of action related to Rolex’s allegation that Goaz sold and distributed fake Rolexes. Before the District Court was able to rule on a Rolex summary judgment motion, Goaz filed bankruptcy […]
Debtor Mark Alan Frost filed bankruptcy, claimed his homestead as exempt and then sold it. Texas law provides that, to maintain homestead protection, a homeowner must reinvest sale proceeds in another homestead within six months. Frost failed […]
This is not a decision by the Fifth Circuit, but rather a dissent written by Judge Higginson and joined by Judges Stewart, Jolly, Davis, Dennis and Graves. They are dissenting from the Court’s decision not to take a previous matter back up […]
A divorce court entered a decree dividing up the assets of Michael Vernon Shankle and Dianne Shankle. Michael Vernon Shankle, contrary to the terms of the divorce decree, withdrew all funds from an investment account and spend them for his […]
Jason Binford and I recently published an article in the Texas Tech Law Review entitled, Farmer Favoritism: Statutory Protections for Creditors in Agricultural Bankruptcy Cases. The article discusses several different types of special interest statutes […]
M&F alleged that it obtained a perfected security interest in accounts receivable of Fish & Fisher. Fish & Fisher later obtained a significant arbitration award against one of its clients and hired Coxwell to hold the award in trust […]
Green Hills Development executed a promissory note to Credit Union Liquidity Services (CULS) for $14.5 million, secured by certain real estate. Green Hills Development later fell behind on the note and failed to pay the balance at maturity. […]
R.E. Loans (“REL”) raised funds to make real estate secured loans to real estate developers. In July 2007, REL entered into a senior secured credit facility with Wells Fargo. In November 2007, REL and its member-investors entered […]
The debtor executed a promissory note in favor of lender. The note has a clause allowing for acceleration of the debt upon default and another clause providing for a prepayment penalty. The acceleration clause said that upon a default the […]
This is the latest in several Lothian Oil matters that have been heard by the Fifth Circuit in the last several years. Lothian Oil filed Chapter 11 in 2007 and confirmed a plan in 2009. Thereafter, an unofficial committee of shareholders, […]