§ 363

In re Gulf Coast Oil Corp.

Debtors, affiliated entities engaged in oil and gas exploration and production, determined that reorganization under chapter 11 was not possible, and the debtors moved pursuant to 11 U.S.C.S. § 363(b) for authorization to sell substantially all of the debtors' assets to the debtors' sole secured lender and to assign to the lender various executory contracts to maintain the value of those assets.
Ruling: 
Motion for sale of substantially all assets denied absent sufficient business justification.
ABI Membership is required to access the full summary of In re Gulf Coast Oil Corp.. 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 11,2009, LexisNexis #0409-113

In re Linton Props. LLC

A bankruptcy trustee proposed to abandon real property of the estate after an auction of the property by a bankruptcy debtor in possession. The successful bidder for the property at the auction objected to abandonment.
Ruling: 
Contract rights of successful bidder at auction by debtor in possession precluded abandonment of property of the estate.
ABI Membership is required to access the full summary of In re Linton 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 January 16,2009, LexisNexis #0409-041

K&B Capital LLC v. United States (In re LWD Inc.)

Appellant a debtor's principal, sought review of a decision of the bankruptcy court for the Western District of Kentucky, which denied its motion for contempt against appellee United States, after the principal claimed that the government violated a final sale order of the bankruptcy court.
Ruling: 
Final sale order did not preclude government from proceeding against debtor's principal for failure to pay employment taxes.
ABI Membership is required to access the full summary of K&B Capital LLC v. United States (In re LWD Inc.). 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 13,2009, LexisNexis #0209-096

In re Roach

The debtors filed for relief under chapter 7 of the Bankruptcy Code, which was converted to a proceeding under chapter 13. A creditor who held a lease with the debtor filed an application for an administrative expense claim under 11 U.S.C.S. § 365(d)(3). The creditor also filed an objection to confirmation of the debtors'amended chapter 13 plan.
Ruling: 
Lessor creditor was not entitled to an administrative expense claim for outstanding rent under lease deemed rejected before chapter 7 was converted to chapter 13.
ABI Membership is required to access the full summary of In re Roach. 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 December 23,2008, LexisNexis #0109-075

In re Pick

The debtors filed for relief under chapter 13 of the Bankruptcy Code. The debtors filed a motion to approve the sale of real and personal property, pursuant to 11 U.S.C.S. § 363(f), and a creditor objected to the sale motions. A bank approved the proposed sale. The bank and the creditor both filed separate motions for relief from the stay and the debtors objected to the motions for relief from the stay.
Ruling: 
Approval of sale of property to debtor's son denied due to insufficient recovery for creditors.
ABI Membership is required to access the full summary of In re Pick. 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 December 18,2008, LexisNexis #0209-110

In re Joel F. Hollowell Oil Co.

A debtor filed its petition for relief under chapter 11 of the Bankruptcy Code. The court entered a final order authorizing the debtor's use of cash collateral for its postpetition operating expenses. A company, which had a first lien security interest in all of the debtor's equipment, fixtures, inventory, and accounts receivable, filed a motion to restrict the debtor's continued use of cash collateral, under 11 U.S.C.S. § 363(e).
Ruling: 
Motion to restrict chapter 11 debtor's use of cash collateral denied.
ABI Membership is required to access the full summary of In re Joel F. Hollowell Oil 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 December 12,2008, LexisNexis #0209-041

In re Dowell

A secured creditor of a chapter 13 debtor sought pre and post-confirmation adequate protection under 11 U.S.C.S. § 363(e), based on the principal balance of its loan rather than the value of its collateral.
Ruling: 
Adequate protection payments on "910 vehicle" loan were properly based on value of vehicle, not outstanding balance.
ABI Membership is required to access the full summary of In re Dowell. 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 19,2008, LexisNexis #0109-076

In re Texas Std. Oil Corp.

Debtor, an oil company, filed a petition under chapter 11 of the Bankruptcy Code, and asked the court for permission to assign its interests in an oil and gas lease to a partnership (LP). The debtor's creditors filed an objection to the debtor's motion.
Ruling: 
Debtor could not assign interest in oil and gas lease for no consideration.
ABI Membership is required to access the full summary of In re Texas Std. Oil Corp.. 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 November 12,2008, LexisNexis #0209-109

In re Proceedings Under Chapter 11 Case Nos. 08-16786 & 08-16788

Movant debtors filed a motion for authorization to use cash collateral, pursuant to 11 U.S.C.S. § 363(c)(2)(B). Respondents, a lender and the committee of unsecured creditors, objected to such relief.
Ruling: 
Debtors authorized to use cash collateral to operate business as debtors in possession.
ABI Membership is required to access the full summary of In re Proceedings Under Chapter 11 Case Nos. 08-16786 & 08-16788. 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 October 31,2008, LexisNexis #1208-040

In re Vitalsigns Homecare Inc.

The matter came before the court for hearing on the chapter 7 trustee's motion to authorize the sale of property of the estate (namely, debtor's Medicare provider number), free and clear of liens, claims, and encumbrances, and the partial objection of the United States, on behalf of the Department of Health and Human Services (HHS). The potential purchaser filed a statement in support of the trustee's motion.
Ruling: 
Trustee allowed to sell debtor's medicare provider number free and clear.
ABI Membership is required to access the full summary of In re Vitalsigns Homecare Inc.. 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 October 29,2008, LexisNexis #0109-074

Pages

Subscribe to § 363