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Posts published in “Banking”

8th Cir. BAP Reverses Chapter 12 Plan Confirmation for Lack of Evidentiary Hearing on Disputed Collateral Values

The U.S. Bankruptcy Appellate Panel for the Eighth Circuit vacated the bankruptcy court's order confirming a farm debtor's chapter 12 plan, concluding that the bankruptcy court erred by failing to hold an evidentiary hearing to determine the value of a bank's collateral where the collateral was disputed. The Panel also concluded that the bank needed to file a proof of claim.

Mass. SJC Holds State False Claims Act Action Barred by Prior Public Disclosure

The Massachusetts Supreme Judicial Court recently affirmed a trial court’s judgment dismissing a relator’s claims alleging that the defendants, certain financial institutions, collectively engaged in and conspired to engage in fraud, holding that the suit was subject to the public disclosure bar of the Massachusetts False Claims Act.

Illinois App. Court (2nd Dist) Upholds Commercial Judgment Enforcement Against Two Officers of Corporate Guarantors

The Appellate Court of Illinois, Second District, recently affirmed the trial court’s entry of judgment in favor of the plaintiff mortgagee in a commercial mortgage foreclosure case, and against two corporate officers of two corporate guarantors.

9th Cir. Upholds Denial of Class Cert. in ‘Wage and Hour’ Case Against Bank

In a putative class action against a bank for alleged underpayment of overtime wages, the U.S. Court of Appeals for the Ninth Circuit recently held the use of a potentially improper pay structure was not evidence of harm in every instance, and thus the predominance requirement provided for in Fed. R. Civ. Pro. 23(b)(3) necessary to certify a class action was not met.