Massachusetts v. First Alliance Mortgage Co. (In Re First Alliance Mortgage Co.)
United States Bankruptcy Appellate Panel for the Ninth Circuit
1Opinion of the Court
OPINION
MARLAR, Bankruptcy Judge.
INTRODUCTION
The bankruptcy court ruled that monetary claims asserted in a state court consumer protection action against the debtor were not exempt from the automatic stay, under the exception for an action to enforce a governmental unit’s police or regulatory power. The Commonwealth of Massachusetts (“Commonwealth”) appealed, and we REVERSE that portion of the order. 1
FACTS AND PROCEDURAL HISTORY
First Alliance Mortgage Co. (“FAMCO” or “debtor”) is a financial services company and one of the affiliate debtors in jointly administered chapter 11 2 cases. FAMCO…
2Cases cited21 opinions
- Perez. v. CampbellSupreme Court of the United States · 1971
- Midlantic National Bank v. New Jersey Department of Environmental ProtectionSupreme Court of the United States · 1986
- Board of Governors of the Federal Reserve System v. MCorp Financial, Inc.Supreme Court of the United States · 1991
- Linkage Corp. v. Trustees of Boston UniversityMassachusetts Supreme Judicial Court · 1997
- Securities and Exchange Commission v. Robert E. BrennanCourt of Appeals for the Second Circuit · 2000
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3Cited by28 opinions
- Lockyer v. Mirant Corp.Court of Appeals for the Ninth Circuit · 2005
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- In Re Nortel Networks, Inc.Court of Appeals for the Third Circuit · 2011
- City of Chicago v. Timothy ShannonCourt of Appeals for the Seventh Circuit · 2019
- California v. PG & E Corp. (In Re Pacific Gas & Electric Co.)United States Bankruptcy Court, N.D. California · 2002
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