Judge Gonzalez

In re GSC Inc.

Debtors, an asset management company and its subsidiaries, filed petitions under Chapter 11 of the Bankruptcy Code, and a trustee was appointed to administer the debtors' bankruptcy estates. The trustee filed a motion for an order which, inter alia, authorized him to sell the debtors' assets pursuant to 11 U.S.C.S. § 363(b) and to assign certain executory contracts. Creditors that had loaned money to the debtors filed objections.
Ruling: 
Trustee's motion for sale of assets granted where assets would be diminished before chapter 11 plan could be confirmed.
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Commercial case opionion summary, case decided on July 18,2011, LexisNexis #0811-044

Hixson v. United States Dept of Educ. (In re Hixson)

Plaintiff debtor sought to discharge a portion of an educational consolidation loan corresponding to the amount borrowed by his former wife to finance her education, pursuant to 11 U.S.C.S. § 523(a)(8). The debtor and creditor, the Department of Education, filed cross- motions for summary judgment on the issue of dischargeability. Debtor and his former wife were jointly and severally liable for an outstanding balance of $195,229.41.
Ruling: 
Portion of consolidated student loan debt reflecting debtor's spouse's loans was nondischargeable as was debtor's portion.
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Consumer case opionion summary, case decided on March 24,2011, LexisNexis #0411-136

Bickerton v. Bozel S.A. (In re Bozel S.A.)

Plaintiff liquidator in foreign proceedings of a bankruptcy debtor's sole shareholder brought an adversary proceeding against defendants, the debtor and its managing director, seeking a determination that the liquidator had sole authority to govern the affairs of the shareholder and remove the director. The debtor moved for permissive abstention under 28 U.S.C.S. § 1334(c)(1) in favor of foreign proceedings initiated by the director.
Ruling: 
Bankruptcy court declined to abstain from adversary proceeding brought by liquidation trustee in foreign insolvency proceeding.
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Commercial case opionion summary, case decided on July 20,2010, LexisNexis #1010-031

In re YL West 87th Holdings LLC

Debtor filed a petition under chapter 11 of the Bankruptcy Code, and a Delaware limited partnership filed a motion seeking an order under 11 U.S.C.S. § 362(d) and Fed. R. Bankr. P. 4001 and 9014 which granted relief from the automatic stay so it could enforce a security interest it held in real property. The debtor opposed the partnership's motion and asked the court for permission to obtain postpetition financing pursuant to 11 U.S.C.S. § 364.
Ruling: 
Creditor granted relief from stay to foreclose where property was valued at less than total debt and postpetition financing was not feasible.
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Commercial case opionion summary, case decided on January 13,2010, LexisNexis #0210-073

In re Old Carco LLC

Movants, domestic auto dealers affected by the debtors' rejection of certain executory sales and service agreements, filed a motion seeking administrative expense priority for damages they sustained as a result of the debtors' rejection of those contracts. The debtors argued that any such claims were pre-petition general unsecured claims pursuant to 11 U.S.C.S. § 365(g).
Ruling: 
Auto dealers' rejection damages claims not entitled to administrative expense priority.
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Commercial case opionion summary, case decided on January 05,2010, LexisNexis #0210-005

In re Old Carco LLC

Before the court pursuant to 11 U.S.C.S. §§ 503(b)(1), 507(a)(2) was an automobile dealer's motion seeking administrative expense priority for damages sustained by the dealer as a result of the voluntary termination by the dealer of its sales and service agreements with the automobile manufacturer. Debtors opposed the motion.
Ruling: 
Claim for damages from termination of auto dealer's agreement and breach of repurchase obligations arose prepetition and was not an administrative expense.
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Commercial case opionion summary, case decided on January 05,2010, LexisNexis #0210-007

Pereira v. Grecolas Ltd. (In re Saba Enters.)

Debtor holding company filed a petition under chapter 7 of the Bankruptcy Code, and a trustee was appointed to administer the debtor's bankruptcy estate. The trustee filed an adversary proceeding against defendants, an individual and various businesses, claiming, inter alia, that the individual was responsible for the fraudulent transfer of assets that belonged to the debtor to other businesses he owned. Defendants filed a motion to dismiss.
Ruling: 
Fraudulent transfer proceeding dismissed as to businesses trustee failed to show were liable.
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Commercial case opionion summary, case decided on September 18,2009, LexisNexis #1009-051

In re Loco Realty Corp.

The successor to a predecessor creditor moved to dismiss the debtor's chapter 11 case pursuant to 11 U.S.C.S. § 1112(b)(1) for cause. Alternatively, the successor moved to dismiss, suspend, or abstain from presiding over the debtor's case pursuant to 11 U.S.C.S. § 305(a).
Ruling: 
Case dismissed where chapter 11 plan was not feasible due to absence of source of funding.
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Commercial case opionion summary, case decided on June 25,2009, LexisNexis #0809-053

In re Armenakis

The bankruptcy court granted a judgment creditor successor's motion to lift the automatic stay in order to pursue its judicial lien on an apartment that the chapter 11 debtor co- owned with her non-debtor spouse. The debtor moved to reconsider the order. The motion included a request that the successor's lien be avoided pursuant to Fed. R. Bankr. P. 4003(d) and 11 U.S.C.S. § 522(f). The successor also moved to lift the automatic stay.
Ruling: 
Lien reduced to the extent impairing debtor's homestead exemption and stay lifted to allow creditor to pursue remedies on remaining balance.
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Consumer case opionion summary, case decided on May 22,2009, LexisNexis #0709-101

In re Chrysler LLC

Movant, state pensioners, filed an emergency motion to stay proceedings pursuant to Fed. R. Bankr. P. 5011(c) pending determination of a motion to withdraw the reference.
Ruling: 
Emergency stay pending determination of motion to withdraw reference denied absent showing by state pensioners of irreparable harm or diminution in potential recovery.
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Commercial case opionion summary, case decided on May 20,2009, LexisNexis #0709-095

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