Skip to main content

§ 541(d)

Millard Refrigerator Servs. v. LandAmerica 1031 Exch. Servs. (In re LandAmerica Fin. Group Inc.)

Apr
15
2009
Ruling
Money deposited by customer in bank account of debtor's subsidiary was property of the estate absent express trust.
Procedural posture

Former customer filed an adversary proceeding against chapter 11 debtors, a financial group and its subsidiary, seeking a judgment that money it deposited in bank accounts the subsidiary opened was held in trust for its benefit and should be returned to it. Official groups of unsecured creditors intervened in the action, and the customer and the groups of unsecured creditors filed cross-motions for partial summary judgment.

ABI Membership is required to access the full summary of Millard Refrigerator Servs. v. LandAmerica 1031 Exch. Servs. (In re LandAmerica Fin. Group Inc.) Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member

Commercial opinion summary, case decided on April 15, 2009 , LexisNexis #0609-086
LexisNexis Article
Learn More

Great Am. Ins. Co. v. Bally Total Fitness of Greater N.Y. (In re Bally Total Fitness of Greater N.Y.)

Mar
27
2009
Ruling
Funds advanced by insurance company with directors' and officers' policies were property of the estate where there was no implied trust created.
Procedural posture

Insurer filed a complaint against debtor seeking a declaratory judgment that funds advanced by the insurer to the debtor under various directors' and officers' liability insurance policies and an interim fee agreement were not property of the bankruptcy estate under 11 U.S.C.S. § 541. The debtor moved to dismiss.

ABI Membership is required to access the full summary of Great Am. Ins. Co. v. Bally Total Fitness of Greater N.Y. (In re Bally Total Fitness of Greater N.Y.) Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member

Commercial opinion summary, case decided on March 27, 2009 , LexisNexis #0509-119
LexisNexis Article
Learn More

In re Mullennix

Apr
27
2006
Ruling
Motion to compel turnover of insurance proceeds was denied since they were deemed not part of estate.
Procedural posture

Movant chapter 7 trustee sought to compel turnover of insurance proceeds related to an automobile from respondent debtor.

ABI Membership is required to access the full summary of In re Mullennix Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member

opinion summary, case decided on April 27, 2006 , LexisNexis #0706-134
LexisNexis Article
Learn More

Cage v. Wyo-Ben Inc. (In re Ramba Inc.)

Jan
23
2006
Ruling
Sale of debtor's assets was not an avoidable transfer since property for which the debtor had no equitable interest is not estate property.
Procedural posture

Two months before bankruptcy, a buyer received the debtor's assets free of liens, paid off the debtor's under secured lender, and paid the rest of the consideration to 10 defendant unsecured creditors. The debtor paid an 11th defendant unsecured creditor. The district court entered summary judgment against plaintiff trustee on an 11 U.S.C. § 547(b) preference action. The trustee appealed.

ABI Membership is required to access the full summary of Cage v. Wyo-Ben Inc. (In re Ramba Inc.) Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member

Court :
Judge or Jurisdiction information not available
opinion summary, case decided on January 23, 2006 , LexisNexis #0206-012
LexisNexis Article
Learn More
Subscribe to %1