Below are the comments of Prof. Dan Schechter (from my alma mater, Loyola Law) to the 9th Circuit’s en banc ruling in In re Sunnyslope Housing Ltd. Partnership, 818 F.3d 937 (9th Cir. 2017). The due date for the petition for cert is now September 22, 2017. The bank’s attorney is Craig Goldblatt from the Wilmer Hale firm in Washington DC.
My thoughts on why the 9th Circuit got Sunnyslope right are here, here and here. The en banc decision is here.
Prof. Schechter commented on the Insolvency Law e-Bulletin:
AUTHOR’S COMMENT: This decision is shockingly wrong. If the lender in this case seeks and obtains certiorari (a big “if”), I predict reversal by the Supreme Court. (As long as I am making rash predictions, I also predict a 6-3 decision, with Justice Breyer joining the majority.) Read more…