In re Pittsburgh Corning Corp.
May
24
2013
Ruling
Third amended plan confirmed with asbestos permanent channeling injunction.
Procedural posture
Chapter 11 debtor proposed a modified Third Amended Plan of Reorganization and sought confirmation. The plan included an asbestos permanent channeling injunction pursuant to 11 U.S.C.S. § 524(g). The court had issued an interim opinion and motions for reconsideration were heard for the court to make certain changes in its final memorandum and opinion.
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Court
:
- 11 U.S.C.
In re Specialty Prods. Holding Corp.
May
20
2013
Ruling
All asbestos personal injury claims against debtor estimated by court using risk-free rate.
Procedural posture
Pursuant to 11 U.S.C.S. § 502(c)(1), the court estimated the amount of contingent or unliquidated mesothelioma claims against chapter 11 debtors caused by exposure to the debtors' asbestos.
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Court
:
- 11 U.S.C.
Melson v. Meronda Homes Inc. of Ohio (In re Meronda Homes Inc. of Ohio)
Mar
11
2013
Ruling
Case reopened for limited purpose of clarifying effect of chapter 11 plan confirmation on claim by creditor who purchased home from debtor.
Procedural posture
Movant homeowner filed a motion to reopen chapter 11 bankruptcy cases that were filed by debtor businesses, for the limited purpose of clarifying his rights with respect to a claim he filed against one of the debtors and finding that the claim and related state court litigation remained unaffected by a chapter 11 plan the court confirmed.
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Court
:
- 11 U.S.C.
Springel v. Prosser (In re Prosser)
Feb
14
2013
Ruling
Exemptions claimed in two out of three properties disallowed on remand.
Procedural posture
Debtor declared chapter 7 bankruptcy and claimed that real property he owned in the U.S. Virgin Islands and in Florida was exempt from creditors' claims. Although the bankruptcy court disallowed the debtors' exemptions, the U.S. District Court for the United States Virgin Islands, Division of St. Thomas and St. John, reversed the bankruptcy court's ruling as to three tracts of land the debtor owned in the Virgin Islands, and remanded the case.
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Court
:
In re Global Indus. Techs. Inc.
Feb
13
2013
Ruling
On remand, bankruptcy court recommended that confirmation of plan proposing creation of asbestos and silica trust be affirmed.
Procedural posture
Debtors, a technologies corporation and affiliated businesses, declared chapter 11 bankruptcy and proposed a plan that reorganized their businesses and established trusts to pay personal injury claims related to the manufacture and sale of asbestos and silica-related products. Following remand by the U.S. Court of Appeals for the Third Circuit, the bankruptcy court held hearings on the debtors' plan.
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Court
:
In re Flintkote Co.
Dec
21
2012
Ruling
Joint plan of reorganization establishing trust for resolving asbestos related claims confirmed.
Procedural posture
Debtor corporations filed a petition under chapter 11 of the Bankruptcy Code and proposed a joint reorganization plan that reorganized one of the corporations and liquidated the assets of the other corporation. The debtors asked the court to confirm their plan.
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Court
:
In re Flintkote Co.
Dec
21
2012
Ruling
Plan of debtor entities that manufactured building materials containing asbestos, providing for channeling injunction and asbestos trust, properly confirmed.
Procedural posture
Objector, the indirect owner of debtors, entities engaged in manufacturing building materials containing asbestos, objected to confirmation of a chapter 11 plan calling for the issuance of a channeling injunction and the creation of an "asbestos" trust per 11 U.S.C.S. § 524(g). Issues included whether it had standing per U.S. Const. art. III and 11 U.S.C.S. § 1109(b) to object to confirmation and whether the plan complied with 11 U.S.C.S. § 1129.
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Court
:
Carroll v. Prosser (In re Prosser)
Dec
20
2012
Ruling
Discharge denied due to pattern of errors, omissions, significant mischaracterization and undervaluation of assets.
Procedural posture
Plaintiff, a chapter 7 Trustee, objected to the debtor's discharge under 11 U.S.C.S. § 727(a)(2), (a)(3), (a)(4), (a)(5), (a)(6), and (a)(7). Because the Trustee failed to set forth findings of fact and conclusions of law on § 727(a)(5) and (a)(7), the court considered those claims waived or abandoned.
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Court
:
Spire Consulting Group LLC v. Fleming Steel Co. (In re Fleming Steel Co.)
Nov
14
2012
Ruling
Creditor not entitled to administrative expense claim related to contract with surety of which debtor was not a beneficiary.
Procedural posture
A claimant filed a motion for allowance of administrative expenses pursuant to 11 U.S.C.S. § 503(b).
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Court
:
Zamindar Props. LLC v. None (In re Zamindar Props. LLC)
Jun
22
2012
Ruling
Motion to appoint debtor's counsel as disbursing agent denied as causing conflict of interest.
Procedural posture
Before the court was movant debtor's motion to appoint counsel for debtor as Disbursing Agent.
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Court
: