In re Lehman Bros.
Nov
23
2015
Ruling
Claim of creditor that was not a customer of insolvent broker dealer and did not have a valid right to payment disallowed.
Issue(s)
Was creditor a "customer" of debtor broker-dealer under the Securities Investor Protection Act that had a right of payment that would allow it to file a valid proof of claim?
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Court
:
In re Lehman Bros. Inc.
Oct
08
2015
Ruling
Debtor's former employees claims for unpaid earned bonuses allowed except to the extent paid by debtor's purchaser.
Issue(s)
Whether trustee for liquidation of debtor under the Securities Investor Protection Act of 1970 (SIPA), as amended, 15 U.S.C.S. § 78aaa et seq., was entitled to an order under 11 U.S.C.S. § 502(b) disallowing bonus claims by former employees of debtor who were hired by the purchaser of debtor's assets (transferred employees).
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Court
:
In re SLS Capital S.A.
Jul
20
2015
Ruling
Comity granted to order interpreting liquidation order in foreign main proceeding.
Issue(s)
Should comity be granted to order of a Luxemburg court interpreting the court's liquidation order in a foreign main proceeding?
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Court
:
In re Lehman Bros. Holdings
Jul
28
2014
Ruling
Mortgage-backed securities were not "securities of the debtor or an affiliate" and related claim was not subject to subordination.
Issue(s)
Were claims based on mortgage backed securities claims concerning a security "of the debtor or of an affiliate of the debtor," which should be disallowed?
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Court
:
- 11 U.S.C.
In re Octaviar Admin. Pty Ltd.
Jun
19
2014
Ruling
Australian insolvency proceeding filed by company incorporated in Australia holding claims against U.S. entities qualified for recognition as a foreign main proceeding.
Issue(s)
Could foreign insolvency case of Australian company be recognized as a foreign main proceeding?
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Court
:
- FRBP
In re Ambac Fin. Group Inc.
Sep
23
2011
Ruling
Settlement approved over objection to exclusion of claims against directors and officers concerning losses from investment in residential mortgage backed securities and CDOs.
Procedural posture
After debtor proposed a settlement and compromise of certain claims that the court had approved per Fed. R. Bankr. P. 9019, two claimants who apparently had not received notice thereof due to inadvertence asserted objections to the court's order approving the proposed settlement to the extent that it released and barred shareholder derivative claims. The objections raised both procedural and substantive objections.
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Court
:
- FRBP
In re Ambac Fin. Group Inc.
Sep
13
2011
Ruling
Settlement of securities action approved in best interests of estate to eliminate the burden and expense of further litigation and the risk of an adverse judgment.
Procedural posture
A chapter 11 debtor filed a motion seeking approval of a settlement stipulation and its amendments and an insurer agreement and its amendments.
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Court
:
- 11 U.S.C.
In re Innkeepers USA Trust
Apr
01
2011
Ruling
Investor lacked standing to contest debtors' motion for sale of assets.
Procedural posture
Debtors, a trust and certain of its affiliates, filed a petition under chapter 11 of the Bankruptcy Code and sought entry of an order which, inter alia, authorized them to enter into a commitment letter that allowed them to sell assets to a stalking horse bidder, approved bidding procedures, approved bid protections, and authorized an expense reimbursement to another bidder. An investor filed an objection to the debtors' motion.
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Court
:
In re Boston Generating LLC
Dec
03
2010
Ruling
Power companies granted authority to sell substantially all assets.
Procedural posture
Debtors, companies that operated power plants that provided wholesale electricity to the Boston, Massachusetts, area, filed petitions under Chapter 11 of the Bankruptcy Code, and they filed a motion seeking authority to sell substantially all of their assets to a corporation ("buyer"), pursuant to 11 U.S.C.S. § 363(b). Lenders that held second liens on the debtors' property and an Official Committee of Unsecured Creditors opposed the motion.
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Court
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