Jul
17
2013
Tardif v. St. John the Evangelist Church (In re Engler)
Trustee filed an adversary proceeding to avoid the debtor's transfer to church under 11 U.S.C.S. § 548 and to recover the value of the transfer from the church under 11 U.S.C.S. § 550(a)(1). The parties filed cross-motions for summary judgment.
Ruling:
Trustee could not recover allegedly fraudulent charitable donation from church that was conduit and not an initial transferee.
ABI Membership is required to access the full summary of Tardif v. St. John the Evangelist Church (In re Engler). 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 17,2013, LexisNexis #0813-022
Mar
08
2013
Pyfer v. Josantos Construction (In re National Pool Constr. Inc.)
In a previous order, the court found that payments to defendant did not constitute a preference under 11 U.S.C.S. § 547 and denied summary judgment on that basis and dismissed the complaint. The court vacated the dismissal and addressed the remaining counts of the complaint, which included avoidance and recovery of a postpetition transfer under 11 U.S.C.S. §§ 549 and 550 and disallowance of any claim by defendant under 11 U.S.C.S. § 502(d).
Ruling:
Prepetition check honored postpetition was an unauthorized, avoidable transfer.
ABI Membership is required to access the full summary of Pyfer v. Josantos Construction (In re National Pool Constr. 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 March 08,2013, LexisNexis #0413-057
Sep
27
2012
Field v. Lindell (In re Mortgage Store Inc.)
After the court ruled that a transfer was fraudulent under both the Bankruptcy Code and state law, it found that unresolved questions of fact precluded a finding that plaintiff, a chapter 7 trustee, could recover the transfer pursuant to 11 U.S.C.S. § 550(a) from defendant transferee. The trustee filed a supplemental motion for summary judgment regarding the transferee's status as an initial or subsequent transferee.
Ruling:
Debtor's sole principal and president who performed under purchase agreement and exercised dominion over funds was an initial transferee.
ABI Membership is required to access the full summary of Field v. Lindell (In re Mortgage Store 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 September 27,2012, LexisNexis #1212-055
Mar
13
2012
Redmond v. NCMIC Fin. Corp. (In re Brooke Corp.)
Chapter 7 trustee sought to avoid allegedly fraudulent transfers made by the debtors and to recover the value thereof from defendant, a finance corporation and lender (lender). As to one of the counts, the lender moved for summary judgment under Fed. R. Civ. P. 56, made applicable by Fed. R. Bankr. P. 7056, on the basis that it could not be liable within the meaning of 11 U.S.C.S. § 550(a)(1).
Ruling:
Allegedly fraudulent transfer of operating expenses and loan payments to others could not be recovered from lender that allegedly benefitted.
ABI Membership is required to access the full summary of Redmond v. NCMIC Fin. Corp. (In re Brooke 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 March 13,2012, LexisNexis #0413-023
Jan
20
2012
Tronox Inc. v. Anadarko Petroleum Corp. (In re Tronox Inc.)
Chapter 11 debtor filed a complaint seeking to establish that a transfer of assets in a spin-off was an intentional or constructive fraudulent conveyance under 11 U.S.C.S. §§ 548 or 544(b). Both parties moved for partial summary judgment. Defendant transferee sought a ruling that 11 U.S.C.S. § 550 capped the debtor's recovery on its claims at the amount of unpaid creditor claims. The debtor sought a ruling that § 550 imposed no cap.
Ruling:
Debtor's recovery on fraudulent transfer claims was not capped by §550(a).
ABI Membership is required to access the full summary of Tronox Inc. v. Anadarko Petroleum Corp. (In re Tronox 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 20,2012, LexisNexis #0212-058
May
05
2011
Kirschenbaum v. Leeds Morelli & Brown PC (In re Robert Plan of N.Y. Corp.)
Chapter 7 trustee filed an adversary proceeding in which it sought to avoid and recover transfers from the debtor to defendant law firm under 11 U.S.C.S. §§ 547(b) and 550. The court conducted a trial on the matter.
Ruling:
Transfers to law firm's trustee account were avoidable but could not be recovered after subsequent transfer to law firm itself.
ABI Membership is required to access the full summary of Kirschenbaum v. Leeds Morelli & Brown PC (In re Robert Plan of N.Y. 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 May 05,2011, LexisNexis #0611-092
Nov
17
2010
White v. Wachovia Dealer Servs. (In re Wyatt)
Chapter 7 trustee commenced this adversary proceeding against defendant lender seeking to recover postpetition payments made by the debtor to the lender with respect to the loan on the debtor's truck. The parties filed cross-motions for summary judgment.
Ruling:
Trustee could avoid lien on debtor's truck and recover postpetition payments to secured creditor.
ABI Membership is required to access the full summary of White v. Wachovia Dealer Servs. (In re Wyatt). 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 17,2010, LexisNexis #1210-104
Aug
27
2010
Paloioan v. Lasalle Bank
The District Court for the Northern District of Illinois, Eastern Division, affirmed a bankruptcy court's finding that a debtor hospital was insolvent by 1997 but that plaintiff bankruptcy trustee could not recover, as fraudulent conveyances, payments made to defendant investment pool trustee (IPT) because the IPT was paid by the debtor's accounts receivable factor. Both sides appealed.
Ruling:
Denial of recovery of alleged fraudulent transfer vacated and remanded for redetermination of debtor's insolvency.
ABI Membership is required to access the full summary of Paloioan v. Lasalle Bank. 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 August 27,2010, LexisNexis #0910-105
Jun
23
2010
Rodriguez v. Drive Fin. Servs. LP (In re Trout)
In consolidated cases, plaintiff bankruptcy trustee appealed a Bankruptcy Appellate Panel for the Tenth Circuit (BAP) decision affirming a bankruptcy court's determination that, having successfully avoided a preferential vehicle lien under 11 U.S.C.S. § 547, the trustee could not have a money judgment against defendant creditors equal to the value of the avoided liens under 11 U.S.C.S. § 550(a).
Ruling:
Trustee not entitled to money judgment against creditors after successful avoidance of lien.
ABI Membership is required to access the full summary of Rodriguez v. Drive Fin. Servs. LP (In re Trout). 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 23,2010, LexisNexis #0810-128
Apr
28
2010
Northrup v. Magnum Oilfield Servs. (In re Aspen Exploration Inc.)
In this adversary proceeding, plaintiff Trustee sought to avoid and to recover a $ 150,000 postpetition transfer under authority of 11 U.S.C.S. §§ 549, 550. Defendant transferee's answer denied the material allegations of the complaint. The Trustee moved for summary judgment.
Ruling:
Unauthorized postpetition transfer to initial transferee could be avoided.
ABI Membership is required to access the full summary of Northrup v. Magnum Oilfield Servs. (In re Aspen Exploration 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 April 28,2010, LexisNexis #0710-125
Pages
