Tag Archives: Bankruptcy Power

Bankruptcy Mischief: Fraudulent Concealment and Bad Faith Will Not Justify Disallowing Bankruptcy Code Exemptions

Did I say I didn’t have any assets, I meant they were exempt!”  Can a debtor lose the right to exempt property in a bankruptcy case if it is discovered that the debtor fraudulently failed to disclose assets or otherwise acted in bad faith?  Elliot Smith discusses the recent Sixth Circuit opinion in Ellmann v. … Continue Reading

Consent, Express or Implied, Allows Bankruptcy Judges to Adjudicate “Stern Claims”

In a case that could have upended the bankruptcy and magistrate court systems, the Supreme Court took a pragmatic approach yesterday when it held in Wellness Int’l Network, Ltd. v. Sharif that with “knowing and voluntary consent” of the parties, a bankruptcy court could adjudicate a so-called “Stern claim,” which would otherwise be outside the scope … Continue Reading

Same Song – – Third Verse: US Supreme Court Hears Arguments in Wellness v. Sharif

“Bad news comes in threes.” “Third time’s the charm.” “Three strikes and you’re out.” One of these three adages may come to characterize the outcome of a case of significant import argued before the US Supreme Court this week. The Supreme Court heard arguments on Wellness Int’l Network, Ltd. v. Sharif. The case is the … Continue Reading