§ 363

In re Oaktree Imaging LP

The chapter 7 trustee filed a motion under 11 U.S.C. § 363(b)(1) to sell the estate's interest in all the physical assets scheduled by the debtor, including an MRI machine, to a physician for $50,000. A party objected to the sale of the MRI machine.
Ruling: 
Sale of aged MRI machine that could not be moved easily along with real property to physician approved as serving sound business purpose.
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Commercial case opionion summary, case decided on September 06,2007, LexisNexis #1007-075

Parker v. Goodman (In re Parker)

Defendant debtor sought review of a judgment from the District Court for the Eastern District of Kentucky affirming the bankruptcy court's order in an adversary proceeding filed by plaintiff attorney, the debtor's former counsel, which permanently enjoined the debtor from prosecuting a state legal malpractice claim against the attorney.
Ruling: 
Sale of debtor's legal malpractice claim was proper.
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In re Pullen

The debtors filed for relief under chapter 13. In an earlier proceeding the court granted the creditor's emergency relief from the automatic stay. The debtor sought to vacate the relief granted, sought to extend the automatic stay, and sought confirmation of their proposed plan. The creditor sought reconsideration.
Ruling: 
Order for relief from stay vacated due to debtors'initiation of plan in good faith.
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Consumer case opionion summary, case decided on July 06,2007, LexisNexis #1007-043

In re Cottrill

The debtors filed for relief under chapter 7 and they received a chapter 7 discharge in December, 2006. In February, 2007, the debtors filed reaffirmation agreements, with respect to two vehicles owned by the debtors and financed by the creditors, to waive the requirements of 11 U.S.C. § 524(c)(1). The court denied the motions at a hearing and set forth a memorandum opinion memorializing its ruling.
Ruling: 
Debtor could not reaffirm debts post-discharge where no action had been taken within 30 days of creditors'meeting.
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Gateway Access Solutions Inc. v. Nester (In re Gateway Access Solutions Inc.)

Movant bankruptcy debtor was permitted to reject a contract granting an option to purchase FCC leases from the debtor, and respondent creditors who held security interests in lease conversion payments under the contract asserted that their liens extended to proceeds from postpetition lease sales and that the creditors were entitled to adequate protection under 11 U.S.C. § 363(e) as a condition of the contract rejection.
Ruling: 
Adequate protection payments for security interests in FCC lease conversion payments not required as rejection of underlying option contract rendered interests worthless.
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In re Lee

Movant, the chapter 7 trustee, asked the court to approve a settlement that the trustee proposed to enter into with an individual who co-owned real estate with a chapter 7 debtor. The co-owner was also debtor's ex-husband. At issue was whether the proposed settlement was proper under 11 U.S.C. § 363(h).
Ruling: 
Court approved settlement by which trustee abandoned debtor's interest in real estate held as tenant in common with former spouse in exchange for payment from spouse.
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Stewart v. Shubert (In re Stewart)

Defendant chapter 7 trustee filed a motion to sell plaintiff debtor's interest in certain residential real property pursuant to 11 U.S.C. § 363(h). The debtor filed an adversary complaint seeking to enjoin the trustee from selling the property.
Ruling: 
Trustee could not sell property transferred to debtor subject to interest of trust in favor of debtor's mother.
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In re ITG Vegas Inc.

After the debtors petitioned for bankruptcy relief, the debtors filed an application seeking authority to employ a lobbying firm, pursuant to 11 U.S.C. § 327, as a political consultant to the debtors. The limited liability company objected to the application. The debtors thereafter amended their application, modifying their basis for relief to reflect approval pursuant to 11 U.S.C. § 363(b) as a use of cash.
Ruling: 
Lobbying firm could be retained as political consultant to debtor.
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In re Downour

A creditor, a mortgagee, objected to a motion filed by movant, a chapter 7 trustee, seeking court approval of its proposed sale of land belonging to debtors. At issue was whether, pursuant to 11 U.S.C. § 363(f)(4), the trustee was properly authorized to sell the land despite the creditor's objection and whether a "bona fide"dispute as to the scope of the creditor's interests existed.
Ruling: 
Order permitting trustee's sale of debtor's land was proper despite bona fide dispute over creditor's lien in property.
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In re Adelphia Communs. Corp.

In a chapter 11 bankruptcy case, the debtors moved, pursuant to 11 U.S.C. § 363, for approval of a settlement with insurers that issued their Directors and Officers ("D&O") policies under which the debtors would sell their interest in the policies to the insurers for $32.5 million. The settlement included a proposed channeling injunction prohibiting others from proceeding against the insurers to pursue claims under the policies.
Ruling: 
Settlement could provide for sale of estate interest in D&O policies but could not include channeling injunction and third party releases not critical to debtor's reorganization.
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