Five years ago, Congress clamped down on small-time debtors by passing the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. The Act helped the consumer credit industry. No longer could people wipe out credit card and other debt by filing for liquidation under Chapter 7. They'd instead have to go under Chapter 13
Supreme Court
RICO Tax Case Loses in Supreme Court
By Barry Barnett on
The U.S. Supreme Court took aim today at "the troubling specter of turning RICO into a tax collection statute." Hemi Group LLC v. City of New York, No. 08-969, slip op. at 13 n.2 (U.S. Jan. 25, 2010). But the Court coudn't muster a majority on the reason why the specter had to die (give up the ghost?).…
Supremes Bar Right to Test Order That Strips Privilege; Sotomayor Pens Her First Opinion
By Barry Barnett on
Congress allows appeals from "final" judgments but seldom other kinds. 28 U.S.C. 1291. An order that rejects most but not all claims on a motion to dismiss, for instance, doesn't count as final. (One to stand while speaking in court or to wear a yellow tie doesn't either.) But what if the ruling requires you to give…
Supremes Take Aussie Securities Case
By Barry Barnett on
Seldom does Blawgletter get the chance to copy something we wrote a year ago, plop it into a post, and hit "Publish".
The Supremes gave us the excuse today by granting cert in Morrison v. Nat'l Australia Bank Ltd., No. 08-1191 (U.S. Nov. 30, 2009), about which we noted last October:
Down Under Securities
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