Schaumburg Bank & Trust Co., N.A. v. Alsterda

(7th Cir. Mar. 4, 2016)

The Seventh Circuit dismisses the appeal because the order appealed from was not a final order. The bankruptcy court overruled the creditor’s objection to the trustee’s motion to approve a settlement of a fraudulent transfer claim. The creditor had obtained a state court judgment on the same claim after obtaining stay relief (although not expressly for pursuing that claim). The court holds that the order addressed a discrete issue rather than a discrete dispute and thus was not a final and appealable order. The creditor could still receive the bulk of the bankruptcy estate’s assets due to its secured claim, and thus the fact that it would not do so through the fraudulent transfer claim did not constitute resolution of a discrete dispute. Opinion below.

2016-03-04 – schaumburg bank and trust v alsterda

Author: Matt Lindblom

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