Federal Credit Union Held to Be a ‘Governmental Unit’ for All Purposes
Although federal credit unions are not controlled by the government, they are governmental units under the Bankruptcy Code, Judge Jacobvitz says.
Ninth Circuit Extinguishes Another Mortgage Where the Lender Had Fallen Asleep
The appeals court allows a tiny lien to wipe out a big mortgage if the bank wasn’t vigilant at the time of foreclosure.
Split Widens on Trustee’s Ability to Use the IRS’s Longer Statute of Limitations
North Carolina Judge disagrees with the Fifth Circuit on extending the statute of limitations to 10 years under Section 544(b)(1).
Creditors Lack Standing to Enforce the Automatic Stay in the Ninth Circuit
A subordinate lender lacked appellate standing to appeal the annulment of the automatic stay in favor of a senior lender.
Sixth Circuit Creates a Split: The 14-Day Deadline for an Appeal Is Not Jurisdictional
Impliedly overruling the law in five circuits, the Supreme Court changed the rules for deciding when a deadline is jurisdictional, the Sixth Circuit says.