Nov
21
2019
Pick-Your-Own, Inc., In re
Ruling:
Injunctive relief preventing creditor from pursuing counterclaim denied as debtor failed toshow or allege danger of imminent, irreparable harm. (Bankr. W.D.N.Y.)
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Commercial case opionion summary, case decided on November 21,2019, LexisNexis #0120-002
Nov
21
2019
Sec. Inv’r Prot. Corp. v. Bernard L. Madoff Inv. Sec., LLC
Ruling:
Trustee was entitled to avoid more than $3 million in fraudulent transfers that were made withactual intent to defraud. (Bankr. S.D.N.Y.)
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Commercial case opionion summary, case decided on November 21,2019, LexisNexis #0120-017
Nov
12
2019
AAGS Holdings, LLC, In re
Ruling:
Creditor's motion to dismiss case was denied where evidence did not show that the debtorfiled the Chapter 11 case without any intention to reorganize. (Bankr. S.D.N.Y.)
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Commercial case opionion summary, case decided on November 12,2019, LexisNexis #1219-092
Nov
13
2019
Stearns Holdings, LLC, In re
Ruling:
Court revoked its confirmation order in debtor's Chapter 11 reorganization as it was procuredby fraud. (Bankr. S.D.N.Y.)
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Commercial case opionion summary, case decided on November 13,2019, LexisNexis #1219-093
Oct
23
2019
Markus, In re
Ruling:
Trust assets and proceeds from sale of Chapter 15 debtor’s estate could be turned over toforeign representative. (Bankr. S.D.N.Y.)HOLDINGS [1]-Where the Foreign Representative sought turnover of Chapter 15 debtor's assets in theU.S., including a New York revocable trust, Russian law permitted the Foreign Representative to exercisewhatever rights debtor had with respect to the trust; [2]-The Foreign Representative had the authority torevoke the trust and administer its assets, and no order from the court or from the Russian court wasrequired for the Foreign Representative to revoke the trust; [3]-The Foreign Representative complied withNew York law in exercising debtor's rights as settlor to terminate or revoke the trust under N.Y. Est.Powers & Trusts Law § 7-1.17(b) by executing a revocation document that was witnessed by two persons;[4]-11 U.S.C. § 1521(a) permitted the turnover of the trust assets and proceeds from the sale of Londonproperty held in a New York account.Markus, In re, 2019 Bankr. LEXIS 3324 (Bankr. S.D.N.Y. October 23, 2019) (Glenn, B.J.).
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Consumer case opionion summary, case decided on October 23,2019, LexisNexis #1219-047
Oct
08
2019
Sillerman, In re
Ruling:
Cause existed to appoint a Chapter 11 trustee or convert to Chapter 7 due to debtor's failure tocomply with provisions of the Bankruptcy Code and debtor's failure to make required filings.(Bankr. S.D.N.Y.)
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Consumer case opionion summary, case decided on October 08,2019, LexisNexis #1219-020
Sep
30
2019
DiStefano, In re
Ruling:
Bad faith is not grounds for denial of an exemption in debtor’s property. (Bankr. N.D.N.Y.)
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Consumer case opionion summary, case decided on September 30,2019, LexisNexis #1119-081
Oct
03
2019
Kedia, In re--Suparo Int'l Inc. v. Kedia
Ruling:
Debt was not dischargeable where debtor engaged in actual fraud that impaired creditor'sability to collect its debt. (Bankr. E.D.N.Y.)
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Consumer case opionion summary, case decided on October 03,2019, LexisNexis #1119-086
Sep
30
2019
Brody, In re--William M. Bryan, Inc. v. Brody
Ruling:
Debt was nondischargeable where debtor was acting in a fiduciary capacity when heimproperly diverted the trust funds to himself. (Bankr. S.D.N.Y.)
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Consumer case opionion summary, case decided on September 30,2019, LexisNexis #1119-087
Sep
20
2019
Allard, In re
Ruling:
Chapter 7 trustee exercised appropriate judgment in recommending that proposed sales beapproved where liquidation of the properties was necessary to maximize the value of debtor'sestate. (Bankr. S.D.N.Y.)
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Consumer case opionion summary, case decided on September 20,2019, LexisNexis #1119-032
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