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ANZ Sec. Inc. v. Giddens (In re Lehman Bros.)

Ruling
Contribution and reimbursement claims of junior underwriters properly subordinated to claims of general unsecured creditors of lead underwriter.
Issue(s)
What was the proper priority to be assigned to claims by junior underwriters for contribution or reimbursement in the Lehman Brothers bankruptcy?

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Court :
Judge or Jurisdiction information not available
Commercial opinion summary, case decided on December 14, 2015 , LexisNexis #0116-015

City of Concord N.H. v. Northern New Eng. Tel. Operations LLC (In re N. New Eng. Tel. Operations LLC)

Ruling
A lien is extinguished by a confirmed chapter 11 plan when its text does not preserve the lien, its terms deal with the lien and the lienholder participated in the bankruptcy case.
Issue(s)
What are the circumstances under which a chapter 11 plan of reorganization extinguishes a lien?

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Court :
Judge or Jurisdiction information not available
Commercial opinion summary, case decided on August 04, 2015 , LexisNexis #0815-129

Morning Mist Holdings Ltd. v. Krys (In re Fairfield Sentry Ltd.)

Ruling
Bankruptcy court properly recognized foreign main proceeding as debtor's center of main interest was in British Virgin Islands.
Procedural posture

Appellants, including a shareholder of debtor, challenged a judgment of the U.S. District Court for the Southern District of New York affirming the order of the Bankruptcy Court, which determined that debtor had its "center of main interests" in the British Virgin Islands (BVI), and therefore recognized debtor's liquidation in the BVI as a "foreign main proceeding" under 11 U.S.C.S. § 1517. Appellees were debtor's liquidator.

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Court :
Judge or Jurisdiction information not available
Commercial opinion summary, case decided on April 16, 2013 , LexisNexis #0513-033

Ogle v. Fidelity & Deposit Co. of Md.

Ruling
Creditor's claim for postpetition attorneys' fees pursuant to prepetition contract with debtor allowed.
Procedural posture

The District Court for the Northern District of New York, affirming a judgment of the Bankruptcy Court for the Northern District of New York, ordered a liquidating trust to pay post-petition attorneys' fees on a claim that stemmed from a pre-petition indemnity agreement. Appellant, the liquidating trustee, appealed, arguing that the federal Bankruptcy Code barred unsecured claims for post-petition attorneys' fees.

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Court :
Judge or Jurisdiction information not available
Commercial opinion summary, case decided on November 05, 2009 , LexisNexis #1209-031

Indiana State Police Pension Trust v. Chrysler LLC (In re Chrysler LLC)

Ruling
Sale of substantially all assets of debtor, financed by TARP, properly authorized by bankruptcy court.
Procedural posture

The Bankruptcy Court for the Southern District of New York authorized the sale of substantially all of appellee debtor's assets to appellee buyer. Appellants, pensioners, tort claimants, and others, filed appeals. The court granted a motion for a stay and for expedited appeal directly to the court.

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Court :
Judge or Jurisdiction information not available
Commercial opinion summary, case decided on August 05, 2009 , LexisNexis #0909-002

Bondi v. Capital & Fin. Asset Mgmt.

Ruling
District court properly denied motion of debtor in foreign proceeding to enjoin U.S. securities fraud action.
Procedural posture

Appellants challenged an order of the United States District Court for the Southern District of New York, denying a motion under 11 U.S.C.S. § 304 (repealed) by appellant debtor in foreign bankruptcy proceedings, to enjoin securities fraud actions brought against it in the United States.

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Court :
Judge or Jurisdiction information not available
Commercial opinion summary, case decided on July 22, 2008 , LexisNexis #0808-056