May
19
2023
Nuovo Ciao-Di, LLC, In re
Ruling:
Condominiums did not constitute "single asset real estate" as creditor did not sufficiently establish that the properties were linked by a common plan or scheme. (Bankr. S.D.N.Y.)
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Commercial case opionion summary, case decided on May 19,2023, LexisNexis #0723-026
May
22
2023
SVB Fin. Grp., In re
Ruling:
Stay lifted to allow directors and officers to access proceeds of D&O policies to fund their defenses in covered actions. (Bankr. S.D.N.Y.)
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Commercial case opionion summary, case decided on May 22,2023, LexisNexis #0723-029
Apr
28
2023
Reyes, In re
Ruling:
Motion to unseal was granted as the material contained in the pleadings was a straightforward recitation of the facts underlying the actions taken by counsel to debtors with respect to the escrowing of funds in debtors' cases. (Bankr. S.D.N.Y.)
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Consumer case opionion summary, case decided on April 28,2023, LexisNexis #0623-078
Apr
25
2023
Diocese of Rochester, In re--Diocese of Rochester v. Continental Ins. Co.
Ruling:
Stay lifted to allow insurance carriers to commence a declaratory judgment action to determine liability insurance coverage of sexual abuse claims made against the debtor diocese. (Bankr. W.D.N.Y.)
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Commercial case opionion summary, case decided on April 25,2023, LexisNexis #0623-076
Apr
14
2023
N.Y. Hand & Physical Therapy PLLC, In re
Ruling:
Subchapter V debtor's case dismissed due to persistent unexcused failure to file operating reports and the debtor's inability to confirm a plan. (Bankr. S.D.N.Y.)
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Commercial case opionion summary, case decided on April 14,2023, LexisNexis #0623-040
Apr
10
2023
Velez, In re
Ruling:
Dismissal was proper as debtors had not filed a plan in any of their cases, did not commence making payments to the trustee, failed to pay the Chapter 13 filing fee, and failed to file numerous of the schedules, statements, and other required documents. (Bankr. E.D.N.Y.)
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Consumer case opionion summary, case decided on April 10,2023, LexisNexis #0623-045
Apr
14
2023
45 John Lofts, LLC, In re--45 John Lofts, LLC v. Meridian Cap. Grp. LLC
Ruling:
Debtor could recover a transfer as an intentional fraudulent conveyance as the transfer was made with actual intent to hinder, delay, or defraud. (Bankr. S.D.N.Y.)
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Commercial case opionion summary, case decided on April 14,2023, LexisNexis #0623-037
Mar
28
2023
Securities Inv. Prot. Corp. v. Bernard L. Madoff Inv. Sec. LLC
Ruling:
Madoff trustee sufficiently pled the initial transferees had actual knowledge that the debtor was not trading securities, which made the safe harbor inapplicable. (Bankr. S.D.N.Y.)
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Commercial case opionion summary, case decided on March 28,2023, LexisNexis #0523-065
Mar
21
2023
Coco Foods, Inc., In re--Pryor v. Nelson & Sons Formals Ltd.
Ruling:
Trustee was entitled to avoid and recover transfers made by two debtor companies in connection with business acquisitions that rendered both debtors insolvent and with unreasonably small capital. (Bankr. E.D.N.Y.)
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Commercial case opionion summary, case decided on March 21,2023, LexisNexis #0523-066
Mar
20
2023
Jackson, In re
Ruling:
Chapter 7 case could be reopened to schedule previously undisclosed debt. (Bankr. E.D.N.Y.)
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Consumer case opionion summary, case decided on March 20,2023, LexisNexis #0523-031