- 11 U.S.C.
Ion Media Networks Inc. v. Cyrus Select Opportunities Master Fund Ltd. (In re Ion Media Networks Inc.)
Nov
24
2009
Ruling
Debtor broadcasting company's plan confirmed over objection of investor who purchased debtor's second lien debt at discount.
Procedural posture
Bankruptcy debtors, a broadcasting company and subsidiaries, proposed a reorganization plan predicated on a debt for equity exchange supported by a pre-bankruptcy inter- creditor agreement among first and second priority secured creditors. A second priority secured creditor objected to confirmation of the plan and asserted that the debtors' Federal Communications Commission (FCC) licenses did not constitute collateral.
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Court
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- 11 U.S.C.
JPMorgan Chase Bank v. Charter Communs. Operating LLC (In re Charter Communs.)
Nov
17
2009
Ruling
Plan involving reinstatement of secured credit facility could be confirmed.
Procedural posture
Plaintiff bank, acting as agent for a syndicate of senior lenders, filed an adversary proceeding against defendant chapter 11 debtors, a cable television company and its affiliates, seeking a determination that reinstatement of claims of senior secured lenders was not allowed because of prepetition defaults under a senior credit agreement. The debtors filed a motion to dismiss and asked the court to confirm a reorganization plan.
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Court
:
- 28 U.S.C.
Bank of Am. v. Lightstone Holdings (In re Extended Stay Inc.)
Oct
07
2009
Ruling
Action by lender and purchaser of mortgage debt against guarantors, lenders and debtor's principals remanded as having no conceivable effect on estate.
Procedural posture
As a result of debtors' bankruptcies, plaintiff holder of an interest in a mortgage trust brought an action against defendant co-holders, plaintiff lender brought an action against defendant guarantors, and plaintiff purchaser of mortgage debt brought an action against defendants, lenders and principals of the debtors. The actions were removed to bankruptcy court and the holder, the lender, and the purchaser moved to remand the actions.
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Court
:
- 11 U.S.C.
In re DJK Residential LLC
Sep
02
2009
Ruling
Unliquidated fraud claim disallowed due to substantial consummation of confirmed plan and to allow resolution of issues in district court.
Procedural posture
Debtors objected to claim number 138 (the Claim) filed on behalf of claimants. Debtors sought dismissal, disallowance and expungement of the Claim.
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Court
:
- 28 U.S.C.
JPMorgan Chase Bank v. Charter Communs. Operating LLC (In re Charter Communs.)
Jul
07
2009
Ruling
Determination of whether debtor defaulted under credit agreement prior to petition date was a core proceeding.
Procedural posture
The agent for a senior credit facility brought an adversary proceeding against debtors seeking a determination that the debtors committed defaults under the debtors' credit agreement with the facility prior to filing their bankruptcy petitions. The debtors moved for a determination of whether the proceeding was a core proceeding.
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Court
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In re Lehman Bros. Holdings
May
12
2009
Ruling
Funds transferred by creditor bank to debtor's account after petition was filed were not subject to setoff.
Procedural posture
A bankruptcy debtor owed a loan debt to a foreign bank and the bank sought to set off funds in the debtor's account against such debt under 11 U.S.C.S. § 553(a). The debtor asserted that the funds were not transferred to the debtor's account by an affiliate of the debtor until after the debtor's bankruptcy petition was filed, and thus the funds were not available for setoff.
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Court
:
- FRBP
In re Lehman Bros. Inc.
Nov
26
2008
Ruling
Debtor's former employees' motion for discovery of list of participants in deferral compensation plan granted.
Procedural posture
Certain former employees of the debtor who were participants under and who had unspecified claims for compensation and other relief arising with respect to deferred compensation plans moved for discovery pursuant to Fed. R. Bankr. P. 2004 for a list of all participants in the debtor's deferred compensation plans.
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Court
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Jimenez v. NYCTL 1996-1 Trust (In re Jimenez)
May
09
2008
Ruling
Mistaken representation that amount secured by lien was paid in full did not render lien unenforceable where retention is called for in the plan.
Procedural posture
Plaintiff bankruptcy debtor brought an adversary proceeding against defendant creditor, seeking a determination that the creditor's lien against the debtor's real property, for unpaid taxes and other property-related charges, was discharged or unenforceable based on the creditor's mistaken statement that the amount secured by the lien was paid in full. The bankruptcy court conducted an evidentiary hearing.
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Court
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