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Michigan Supreme Court Confirms: No Independent Cause of Action for Breach of Implied Covenant of Good Faith

Sometimes an expected result is still newsworthy. On March 27, 2025, in Kircher v Boyne USA, Inc., the Michigan Supreme Court held that there is no independent cause of action for breach of the implied covenant of good faith...more

Bankruptcy Dollar Amounts Set to Rise Significantly on April 1, 2025

Every three years on April 1, the dollar amounts in the Bankruptcy Code are adjusted to account for inflation. The April 1, 2025, increase will be approximately 13.2%, even larger than the nearly 11% increase three years ago....more

In Purdue Pharma, Supreme Court Rules That Nonconsensual Releases Are A Nonstarter

On June 27, 2024, the United States Supreme Court issued its long-awaited opinion in Harrington v. Purdue Pharma L.P., holding that the Bankruptcy Code does not permit nonconsensual releases of nondebtors. As a...more

Debt Limits to Qualify for Subchapter V and Chapter 13 Revert to Prior Lower Levels

In March, Miller Canfield noted that the previously expanded debt limits for bankruptcy cases under the Small Business Reorganization Act ("SBRA," a.k.a. "Subchapter V") and under chapter 13 were set to revert on June 21,...more

Debt Limit to Qualify for Subchapter V and Chapter 13 Set to Revert This Summer

In 2022, Congress passed the Bankruptcy Threshold Adjustment and Technical Corrections Act (the “Act”), raising the debt limits for bankruptcy cases under the Small Business Reorganization Act (“SBRA,” a.k.a. “Subchapter V”)...more

Fifth Circuit Continues Bankruptcy Sale Protections After Supreme Court MOAC Opinion

On April 26, 2023, Miller Canfield alerted readers to the Supreme Court opinion in MOAC Mall Holdings, LLC v. Transform Holdco, LLC. The MOAC decision may affect property sales in bankruptcy cases because it could weaken the...more

Supreme Court Rules That Property Tax Foreclosures Can Violate the “Takings Clause” of the U.S. Constitution

On May 25, 2023, the United States Supreme Court issued its decision in Tyler v. Hennepin County, Minnesota, holding that a state tax foreclosure violates the “Takings Clause” of the U.S. Constitution when it “provides no...more

Supreme Court Rules That Section 363(m) Protections for a Bankruptcy Sale Are Not Jurisdictional

On April 19, 2023, the Supreme Court issued its opinion in MOAC Mall Holdings, LLC v. Transform Holdco, LLC. The decision has implications for sales of property in bankruptcy cases. Section 363(m) of the Bankruptcy Code...more

Innocence Is No Defense: Debt Obtained by Fraud Is Nondischargable

A debt “for money, property, services, or an extension [. . .] of credit, to the extent obtained by [. . .] actual fraud,” is not dischargeable in a chapter 7 bankruptcy case. Courts have questioned whether this applied if...more

Michigan Bankruptcy Exemptions Set to Rise Significantly on March 1

As we reported last year, every three years on April 1, the dollar amounts in the Bankruptcy Code are adjusted to account for inflation. The federal dollar amounts last were increased on April 1, 2022, and are not slated for...more

Celsius Cryptocurrency Woes - Bad News for Those Whose Cryptocurrency Is Trapped in the Estate, Could Be Worse for Those Who Think...

On January 4, 2023, the judge in the Celsius Network bankruptcy case[1] ruled that Celsius users who had deposited cryptocurrency in Celsius’s “Earn Accounts” had transferred ownership of their cryptocurrency to Celsius....more

Sunset of Certain Bankruptcy Code Changes

As we previously reported, the Bankruptcy Code saw many changes in 2020 and 2021. Some of the changes that were enacted under the Consolidated Appropriations Act, 2021 ("CAA") will soon end....more

Is Crypto Collapsing?

November 11, 2022, brought news of yet another massive crypto bankruptcy filing. One of the largest crypto exchanges, FTX, filed a petition for bankruptcy protection in Delaware. ...more

Eleventh Circuit Bolsters Preference Defense by Holding That 503(b)(9) Claims Do Not Reduce the Subsequent New Value Defense

Preference defense received an important boost this week when the Eleventh Circuit decided that invoices paid under 11 U.S.C. § 503(b)(9) can count as "new value" in defending against preference claims. It is the first...more

Passage of Bankruptcy Threshold Adjustment and Technical Corrections Act

Congress has made some small but important changes to the Bankruptcy Code through its enactment of the Bankruptcy Threshold Adjustment and Technical Corrections Act (the "Act") on June 21, 2022. The most important of these...more

Michigan Adopts Its Version of the Uniform Assignment of Rents Act

In May 2017, we highlighted the Sixth Circuit’s opinion in Town Center Flats. Briefly, Town Center Flats held that ownership of a commercial property’s rents transferred to a lender when (1) a commercial loan is secured by a...more

Michigan Tax Foreclosures in Bankruptcy - An Auction and a Right to Claim Surplus Proceeds Insulates Against Challenge as a...

In January, Miller Canfield reported on Lowry v. Southfield Neighborhood Revitalization Initiative (In re Lowry), an opinion from the Sixth Circuit Court of Appeals. Lowry held that a taxpayer in bankruptcy could challenge a...more

Bankruptcy Dollar Amounts Set to Rise April 1, 2022, by a Significant Amount

Every three years on April 1, the dollar amounts in the Bankruptcy Code are adjusted to account for inflation. The April 1, 2022, increase will be nearly 11%, far greater than the approximately 6.2% increase three years ago....more

What Do You Do If a Debtor Defaults on Its Confirmed Bankruptcy Plan?

A recent opinion from the Michigan Court of Appeals explained that when a debtor defaults under a confirmed chapter 11 bankruptcy plan, a creditor can enforce its rights in state court, and perhaps also in the bankruptcy...more

Michigan Tax Foreclosures May Be Avoidable in Bankruptcy

A recent opinion from the Sixth Circuit Court of Appeals has opened a new door for a taxpayer to challenge a Michigan tax foreclosure sale. The opinion held that the challenge could proceed where the property value was...more

Not All Student Loans Are Created Equal - Some May Be Dischargeable in Bankruptcy

On July 15, 2021, in the Homaidan opinion, the Second Circuit joined the Fifth and Tenth Circuits in deciding that certain student loans are dischargeable in bankruptcy. These three opinions are very important for the student...more

The Impact of the Bankruptcy Relief Act and Other Recent Bankruptcy Code Changes

Bankruptcy law has seen many changes in 2020 and 2021. Some of these were enacted in response to COVID, but many other changes were included in the Bankruptcy Code before the pandemic. This article highlights some of these...more

Congress Permits SBA to Make PPP Loans to Debtors in Bankruptcy, SBA Says "No"

In June and December of 2020, Miller Canfield reported that the Fifth and Eleventh Circuits had held that the Small Business Administration ("SBA") may exclude debtors in bankruptcy from consideration for Paycheck Protection...more

Eleventh Circuit Joins Fifth in Holding that the SBA May Deny Paycheck Protection Program Loans to Debtors in Bankruptcy

In June of 2020, Miller Canfield reported that the Fifth Circuit held that a Texas bankruptcy court had exceeded its authority when it ordered the SBA Administrator to make a Paycheck Protection Program (PPP) loan available...more

Will the Real Party in Interest Please Stand Up?

In Michigan, the general rule is that only a real party in interest may initiate a lawsuit. MCR 2.201(B). Although it is usually easy to identify the proper party (or parties), it becomes harder if a would-be plaintiff files...more

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