Winter Leadership Conference | December 5-7 | Rancho Palos Verdes , CA Register Today View Schedule

Oklahoma

In re Millennium Multiple Emplr. Welfare Benefit Plan

The debtor, which was an employer welfare benefit plan, filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code. The debtor was now, and had been since its filing of the Chapter 11 petition, in possession of its assets and it had been operating as debtor-in- possession. The debtor and the official committee of unsecured creditors filed a joint motion for approval of settlement.
Ruling: 
Approval of settlement proposing to distribute significant assets to unsecured creditors denied as an impermissible sub rosa plan.
ABI Membership is required to access the full summary of In re Millennium Multiple Emplr. Welfare Benefit Plan. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Commercial case opionion summary, case decided on February 18,2011, LexisNexis #0611-140

Holbrook v. Country Mutual Ins. Co. (In re Burnett)

Chapter 7 trustee filed a motion for summary judgment in his declaratory judgment action, claiming that he was entitled to possession, to the exclusion of defendants, post-petition medical lienholders and a post-petition health insurer, of a fund created by a court-approved settlement arising under an uninsured motorist insurance policy issued by defendant insurer. Three lienholders filed counter-motions for summary judgment.
Ruling: 
Postpetition liens on insurance settlement fund were avoidable entitling trustee to funds.
ABI Membership is required to access the full summary of Holbrook v. Country Mutual Ins. Co. (In re Burnett). Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Consumer case opionion summary, case decided on January 31,2011, LexisNexis #0611-091

In re Miller

An alleged debtor sought dismissal of an involuntary petition filed against him pursuant to 11 U.S.C.S. § 303.
Ruling: 
Involuntary case dismissed where only one of four petitioning creditors held a debt that was not subject to bona fide dispute.
ABI Membership is required to access the full summary of In re Miller. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Consumer case opionion summary, case decided on January 18,2011, LexisNexis #0211-036

Malloy v. Morrison (In re Morrison)

Chapter 7 trustee filed this adversary proceeding against defendant debtors claiming trust funds in a certain trust ("the Trust") as property of the estate. Debtors answered, claiming that the spendthrift provisions contained in the Trust removed the trust funds from the bankruptcy estate, thus placing them outside of the trustee's grasp.
Ruling: 
Trust was not a valid spendthrift trust and was property of the estate where debtor beneficiary could obtain funds on demand.
ABI Membership is required to access the full summary of Malloy v. Morrison (In re Morrison). Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Consumer case opionion summary, case decided on November 16,2010, LexisNexis #0111-057

Swinson v. Fritz (In re Lytle)

Plaintiff trustee sought to set aside a deed conveying the debtors' interest in real estate to defendants as either a preference under 11 U.S.C.S. § 547 or a constructively fraudulent transfer under 11 U.S.C.S. § 548(a)(1)(B).
Ruling: 
Trustee could not set aside transfer of real estate where the transferee held only bare legal title subject to a resulting trust.
ABI Membership is required to access the full summary of Swinson v. Fritz (In re Lytle). Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Consumer case opionion summary, case decided on November 12,2010, LexisNexis #0111-059

In re Pardee

A bankruptcy debtor received funds derived from her husband's retirement account upon his death, which the debtor placed in her retirement account, and a former spouse of the husband obtained a state-court order enforcing a divorce decree which awarded the spouse half of the husband's retirement benefits. The debtor moved to avoid the spouse's lien on the debtor's account, and the spouse objected to the debtor's exemption of the account.
Ruling: 
Debtor could not claim exemption in retirement funds of which spouse was equitable owner.
ABI Membership is required to access the full summary of In re Pardee. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Consumer case opionion summary, case decided on June 02,2010, LexisNexis #0810-085

Miller v. Dow (In re Lexington Oil & Gas Ltd. Co.)

Chapter 7 trustee filed an adversary proceeding against defendant investors, seeking a judgment recharacterizing payments the investors made to a corporation as equity, and a judgment avoiding the repayment of those sums under 11 U.S.C.S. § 554 as a fraudulent transfer under the Oklahoma Uniform Fraudulent Transfer Act, Okla. Stat. Ann. tit. 24, §§ 112-123. The trustee settled his claims against one of three investors he sued.
Ruling: 
Payments by investors to debtor recharacterized as equity and repayments of investments avoided as fraudulent transfers.
ABI Membership is required to access the full summary of Miller v. Dow (In re Lexington Oil & Gas Ltd. Co.). Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Commercial case opionion summary, case decided on January 27,2010, LexisNexis #0410-020

Tulsa Spine & Specialty Hosp. LLC v. Schoen (In re Schoen)

Plaintiff hospital filed an adversary proceeding against defendant chapter 7 debtor, seeking a determination that a joint and several judgment debt it had acquired against the debtor and his former wife was nondischargeable under 11 U.S.C.S. § 523(a)(4) and (6). The bankruptcy court held a hearing. The parties submitted supplemental briefs at the bankruptcy court's request.
Ruling: 
Debt owed to hospital under security agreement that did not create an express trust was dischargeable.
ABI Membership is required to access the full summary of Tulsa Spine & Specialty Hosp. LLC v. Schoen (In re Schoen). Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Consumer case opionion summary, case decided on July 02,2009, LexisNexis #0909-085

Carter v. Hall (In re Hall)

Plaintiff creditors filed an adversary proceeding objecting to discharge under 11 U.S.C.S. §§ 523(a)(2), (a)(4), and (a)(6) against defendant chapter 7 debtor. Before the court was an order to show cause why the proceeding should not be dismissed for failure to properly serve the debtor. The creditors sought an extension of time for service under Fed. R. Civ. P. 4(m).
Ruling: 
Court declined to extend time for service of process in dischargeability proceeding.
ABI Membership is required to access the full summary of Carter v. Hall (In re Hall). Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Consumer case opionion summary, case decided on June 10,2009, LexisNexis #0809-026

In re Kruger Props. LLC

The debtor filed a chapter 11 bankruptcy petition. The only secured creditor filed a motion to dismiss or, in the alternative, motion for relief from stay pursuant to 11 U.S.C.S. § 362(d), for abandonment of property pursuant to 11 U.S.C.S. § 554(b), and a notice of opportunity for hearing. The debtor did not respond to the motion to dismiss and the court entered an order of dismissal. The debtor moved to vacate the order of dismissal.
Ruling: 
Court refused to vacate dismissal where case was filed solely to frustrate or delay sheriff's sale.
ABI Membership is required to access the full summary of In re Kruger Props. LLC. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Commercial case opionion summary, case decided on May 27,2009, LexisNexis #0809-020

Pages

Subscribe to Oklahoma