Bill on Bankruptcy: Sandbagging of a Federal District Judge
Aug. 8 (Bloomberg) — Clergy abuse victims may be going after a district judge on undisclosed grounds for recusal in the bankruptcy of the Archdiocese of Milwaukee, as Bloomberg Law’s Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle discuss in leading off their new video.
The Judge of the Week once again is Jed Rakoff who is on tap to decide in the liquidation of Bernard L. Madoff Investment Securities Inc. whether a U.S. court can stop a foreign liquidator from suing a U.S. bankrupt abroad. Trailing economic indicators are showing no improvement in the bankruptcy business while Pacchia’s leading indicators show business improving.
The video ends with discussion of two court of appeals decisions. One, from the Fifth Circuit about secured creditors, is arguably inconsistent with the Supreme Court’s Espinosa decision. Bankruptcy lawyers were given protection from malpractice claims from a decision handed down by the Ninth Circuit in California.