In re Grullon
May
20
2014
Ruling
Bad faith dismissal denied as debtor's actions were not sufficiently egregious.
Issue(s)
Did debtor's actions in failing to make candid and full disclosure of assets and financial affairs amount to bad faith that would warrant dismissal?
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Court
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Harrison v. New Jersey Cmty. Bank (In re Jesup & Lamont Inc.)
Mar
26
2014
Ruling
Preference period transfer at direction of debtor's parent corporation to satisfy debt of parent was avoidable.
Issue(s)
Was the collateralization of a debt for the benefit of debtor's parent, shortly before the bankruptcy filings of both the parent and the subsidiary, avoidable as a fraudulent conveyance because the debtor received no consideration or as a preferential transfer to satisfy an antecedent debt?
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Court
:
In re Quad-C Funding LLC
Aug
16
2013
Ruling
Motion to dismiss for lack of authority to file petition denied.
Issue(s)
Whether debtor's chapter 11 petition should be dismissed pursuant to 11 U.S.C.S. § 1112(b) on motion of a member of the debtor limited liability company (LLC) and over objection of the debtor and a creditor.
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Court
:
- 11 U.S.C.
In re Stillwater Asset Backed Offshore Fund Ltd.
Jan
17
2013
Ruling
Dismissal of involuntary petition denied where ineffective distribution in kind did not satisfy debts of petitioning creditors or create a bona fide dispute.
Procedural posture
Petitioning creditors filed an involuntary chapter 11 case against the alleged debtor. The alleged debtor contested the involuntary petition, seeking an order, pursuant to 11 U.S.C.S. §§ 105(a), 303, and 305, (i) dismissing the petition, (ii) imposing sanctions against the petitioning creditors, and (iii) scheduling a damages hearing and directing the petitioning creditors to post a bond pending such hearing.
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Court
:
In re Gerova Fin. Group
Oct
22
2012
Ruling
Recognition of foreign main proceeding granted and could not be conditioned on cost-benefit analysis, approval of creditors or examination of need for proceedings.
Procedural posture
Liquidators of debtors in foreign insolvency proceedings petitioned a bankruptcy court for recognition of the foreign proceedings as foreign main proceedings. Creditors of the debtors objected to recognition on the grounds that recognition was unnecessary and against U.S. public policy.
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Court
:
- 11 U.S.C.
In re DeWitt Rehab. & Nursing Ctr. Inc.
Aug
17
2012
Ruling
Claim for third party payments to employee benefit plan not maintained by debtor was a general unsecured claim.
Procedural posture
A staffing service contended that a portion of its claim was entitled to priority status under 11 U.S.C.S. § 507(a)(5) as contributions to an employee benefit plan. The chapter 11 debtor filed a motion to expunge the priority portion of the claimant's proof of claim.
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Court
:
- 11 U.S.C.
In re Cabrini Med. Ctr.
Jun
15
2012
Ruling
Relief from stay to proceed against entity that allegedly controlled debtor on alter ego theory denied.
Procedural posture
Four of the debtor's creditors request that the automatic stay be lifted in order to allow them to name the debtor as a defendant in a state-court action seeking recovery from an entity that allegedly controlled the debtor.
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Court
:
- 11 U.S.C.
In re Eastman Kodak Co.
Jun
15
2012
Ruling
Adversary proceeding was necessary to effect sale of debtor's patents free and clear of claimed interests of other companies.
Procedural posture
Chapter 11 debtors asked the court to issue an order per 11 U.S.C.S. § 105 in aid of their planned sale of certain patents to the effect that two affiliated companies had no ownership interests in any of the patents and permitting a sale of the patents to third parties free and clear of such claims. At issue was whether § 105 authorized such an order and the effect, if any, of Fed. R. Bankr. P. 7001 and 11 U.S.C.S. § 363.
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Court
:
In re Lear Corp.
Feb
10
2012
Ruling
Antitrust action enjoined to the extent arising prior to effective date of debtor's plan.
Procedural posture
Reorganized debtors filed a motion requesting entry of an order (i) enforcing the discharge provisions of their joint plan of reorganization and (ii) directing dismissal of antitrust litigation recently commenced against them by a purported class of parties who claimed to be indirect purchasers of one of the debtors' products.
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Court
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Tronox Inc. v. Anadarko Petroleum Corp. (In re Tronox Inc.)
Jan
20
2012
Ruling
Debtor's recovery on fraudulent transfer claims was not capped by §550(a).
Procedural posture
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.
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Court
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