HOT DOCS

U.S. Dep’t of the Treasury v. Official Comm. of Unsecured Creditors of Motors Liquidation Co. (S.D.N.Y.)

OPINION – An action by the old General Motors Corp.’s unsecured creditors committee seeking an order declaring that the government lenders that provided debtor-in-possession financing had no right to proceeds hypothetically resulting from potential avoidance claims is not ripe for adjudication until the avoidance claims are decided, a federal judge has ruled.

Marx v. Gen. Revenue Corp. (U.S.)

PETITION FOR CERT. – Marx sued General Revenue (GR) for violations of the Fair Debt Collection Practices Act, and lost. GR was awarded costs. Marx argues that 15 U.S.C. 1692k(a)(3) allows for attorney fees for FDCPA actions brought in bad faith, but that there was no bad faith here, and this standard should apply to costs under Rule 54(d).

In re Jackson (Bankr. S.D. Tex.)

OPINION – Debtor failed to disclose his interests in a patent and some pending lawsuits in his initial schedules. He argued that the omissions were inadvertent, so he should not be judicially estopped from benefitting from the undisclosed assets. However, debtor was aware of his interests in the assets and had motive to conceal them, and is estopped from benefitting from them.