Can Doing Nothing as a Creditor Get You Sanctioned – In re Fulton Part II
By EsqSocial Corporation 26/01/21
In a prior post, we discussed the In re Fulton case — in which the Seventh Circuit Court of Appeals ruled that creditors that seize debtors’ property prior to the debtor filing bankruptcy are required to return the property after the bankruptcy filing — and that the Supreme Court granted certiorari to review the case. The Supreme Court recently entered its opinion overturning the Seventh Circuit and holding that merely retaining property of a debtor’s bankruptcy estate does not, itself, violate...
By: Carlton Fields