Judge Jacobvitz

Wagner v. Ultima Homes Inc. (In re Vaughan Co.)

Chapter 11 trustee filed an adversary action seeking to recover payments made by the debtor to defendants, parties who invested in the debtor's promissory note program, which the trustee alleged was a Ponzi scheme. The trustee sought recovery under 11 U.S.C.S. §§ 544 and 548 and New Mexico's version of the Uniform Fraudulent Transfer Act (UFTA). Defendants filed a motion for summary judgment.
Ruling: 
Trustee was not barred by ERISA from recovering fraudulent transfers to plan.
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Commercial case opionion summary, case decided on May 24,2013, LexisNexis #0613-130

In re Vaughan Co. Realtors

A creditor asserted that there was a continuing loss to or diminution of a chapter 11 bankruptcy debtor's estate with no reasonable likelihood of rehabilitation, and that the bankruptcy trustee failed to comply with timely filing and reporting requirements. The creditor moved to convert the debtor's case to chapter 7 for cause.
Ruling: 
Conversion to chapter 7 denied where litigation over debtor's principal's Ponzi scheme was not shown to be diminishing estate.
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Consumer case opionion summary, case decided on May 21,2013, LexisNexis #0613-066

Bank of Cordell v. Sturgeon (In re Sturgeon)

Appellant chapter 7 debtor sought review of a judgment from the United States Bankruptcy Court for the Western District of Oklahoma in favor of appellee bank on the bank's non-dischargeability complaint under 11 U.S.C.S. § 523(a)(2)(A) and (a)(2)(B).
Ruling: 
Debtor veterinarian's participation in fraudulent scheme to divert cattle sale proceeds pledged to bank resulted in nondischargeable debt.
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Consumer case opionion summary, case decided on May 14,2013, LexisNexis #0613-018

In re First State Bancorporation

Chapter 7 Trustee filed an application to retain a law firm as special litigation counsel pursuant to 11 U.S.C.S. §§ 327(a), (c), and 328(a). The receiver for one of two primary creditors opposed the application.
Ruling: 
Trustee could not employ law firm that had represented one of two rival creditors.
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Commercial case opionion summary, case decided on March 06,2013, LexisNexis #0413-038

In re Rodriguez

Debtor filed a petition under chapter 13 of the Bankruptcy Code, asked the court to extend the automatic stay pursuant to 11 U.S.C.S. § 362(c)(3)(B), and proposed a first amended plan for paying his creditors. The debtor's ex-wife filed an objection to the debtor's motion to extend the stay and to confirmation of the debtor's plan. The court held a hearing on the debtor's request for confirmation and the ex-wife's objections.
Ruling: 
Objection to confirmation sustained and extension of stay denied due to debtor's inability to propose confirmable plan.
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Consumer case opionion summary, case decided on February 11,2013, LexisNexis #0313-030

In re Otero County Hosp. Assn

A creditor filed an amended motion for extension of time to file a proof of claim pursuant to Fed. R. Bankr. P. 9006(b)(1), contending that her failure to file a proof of claim on or before the bar date was a result of excusable neglect. The chapter 11 debtor objected to the motion.
Ruling: 
Extension of time to file proof of claim denied due to absence of excusable neglect.
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Commercial case opionion summary, case decided on January 04,2013, LexisNexis #0113-135

Marquez v. ADP Inc. (In re Marquez)

Defendants, parties with some involvement in a garnishment of funds belonging to plaintiff, a chapter 7 debtor, moved to dismiss debtor's adversary complaint for turnover per 11 U.S.C.S. § 542, for relief under 11 U.S.C.S. § 547, and for violation of stay and damages per 11 U.S.C.S. § 362.
Ruling: 
Debtor lacked standing to bring proceedings for turnover and violation of stay relating to garnished funds in which debtor claimed exemption.
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Consumer case opionion summary, case decided on January 04,2013, LexisNexis #0113-119

In re Quinn

The United States Trustee (UST) filed a motion to dismiss debtors' chapter 7 bankruptcy case pursuant to 11 U.S.C.S. § 707(a), or alternatively to convert the case to a chapter 11 proceeding.
Ruling: 
Dismissal or conversion denied where failure to include information in disclosures was insufficiently egregious.
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Consumer case opionion summary, case decided on December 28,2012, LexisNexis #0113-090

In re Baca

A chapter 13 trustee filed a notice of final cure payment under Fed. R. Bankr. P. 3002.1(f). The creditor responded, indicating that postpetition amounts remained due. The parties stipulated that the creditor's proof of claim was secured by the debtors' principal residence. The debtors orally moved that the creditor be estopped from later claiming any postpetition arrearages under the mortgage in excess of the amount specified in its response.
Ruling: 
Creditor estopped from claiming prepetition amounts beyond those in its response to chapter 13 trustee's notice of final cure payment.
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Consumer case opionion summary, case decided on December 20,2012, LexisNexis #0113-063

In re Mundy Ranch Inc.

Debtor, a family-owned corporation that was established under New Mexico law, filed a petition under chapter 11 of the Bankruptcy Code and sought permission to sell 32.25 acres of land it owned in New Mexico, free and clear of all interests in the property, pursuant to 11 U.S.C.S. § 363(f). A shareholder who owned 25 percent of the stock in the corporation filed an objection.
Ruling: 
Sale of land allowed free and clear of claim that was subject to bona fide dispute.
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Commercial case opionion summary, case decided on December 10,2012, LexisNexis #0113-009

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