Chicago Debtors May Lose High Court Case But See Relief
Law360 (October 21, 2020, 4:31 PM EDT) -- Oral arguments conducted last week in Chicago v. Fulton, postponed since April due to the COVID-19 crisis, presented the U.S. Supreme Court with a relatively narrow question of statutory construction, namely:
Whether an entity that is passively retaining possession of property in which a bankruptcy estate has an interest has an affirmative obligation under the Bankruptcy Code's automatic stay, Title 11 of the U.S. Code, Section 362, to return that property to the debtor or trustee immediately upon the filing of the bankruptcy petition.
In each of the four cases before the court, the city of Chicago impounded the debtor's...
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