Archive for October 2019

The Eleventh Circuit never ruled that the trustee must establish avoidability of a transfer as part of a recovery suit if the transfer has already been avoided. “Nor, does the Court think, would it ever. First, the language of section 550 is clear. The initial transfer must be avoided, or in the Eleventh Circuit, proven…

Creditors need to review all of the debtor’s proposed Chapter 13 plans since it will trump even explicit prohibitions in the Bankruptcy Code to noticed parties. Under the circumstances, the Bankruptcy Court here in the Southern District of Florida West Palm Beach Division found that Wells Fargo was “provided with notice reasonably calculated under all…

The Court found that there is nothing in the hanging paragraph of section 1325(a) that would lead it to conclude that the existence of a cross-collateralization clause in the security agreement between the debtors and the credit union GECU renders the hanging paragraph inapplicable. “The hanging paragraph of section 1325(a) has three requirements when the…

“Under Florida law, common law indemnity allows an innocent party, who is nonetheless liable to another, to “[shift] the entire loss from one who, although without active negligence or fault, has been obligated to pay, because of some vicarious, constructive, derivative, or technical liability, to another who should bear the costs because it was the…

“Under Fla. Stat. § 726.110, causes of action arising under section 726.105(1)(a) are extinguished on the later of 4 years after the transfer or 1 year after it could reasonably have been discovered, and causes of action arising under section 726.105(1)(b) are extinguished 4 years after the transfer. BAICO does not dispute that $260,500 of…