Judge Stein

In re Source Enters.

Appellant, a law firm that had represented affiliated debtors as bankruptcy counsel challenged an order of the U.S. Bankruptcy Court for the Southern District of New York confirming its plan of reorganization. At issue was whether appellant's challenge to confirmation was foreclosed because the plan had been"substantially consummated" within the meaning of 11 U.S.C.S. § 1101(2) and whether other provisions were violated.
Ruling: 
Appeal of plan confirmation denied as moot due to substantial consummation.
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Commercial case opionion summary, case decided on August 12,2008, LexisNexis #0908-010

In re Worldcom Inc.

Appellants appealed from an order of the bankruptcy court, which granted appellee debtor's motion to bar the prosecution of certain property-related claims initiated by appellants. The bankruptcy court ruled that any valid claims possessed by appellants were prepetition in nature and therefore had been discharged by the confirmation of debtor's plan of reorganization.
Ruling: 
Court affirmed ruling that causes of action arose prepetition and, thus, were discharged by confirmation of chapter 11 plan.
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