Judge Fitzgerald

In re ACandS Inc.

Debtor, a debtor in possession (DIP), proposed a plan of reorganization and sought confirmation from the court. After various objections were resolved or withdrawn and after the court considered the provisions thereof, it proceeded to consider whether the plan was properly approved pursuant to, inter alia, 11 U.S.C.S. § 1122, 11 U.S.C.S. § 1123, 11 U.S.C.S. § 1126, and 11 U.S.C.S. § 1129.
Ruling: 
Debtor in possession was a proper plan proponent and plan approved as meeting all code requirements.
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Commercial case opionion summary, case decided on May 06,2008, LexisNexis #0908-069

In re Federal-Mogul Global Inc.

Objecting insurers challenged the assignment by chapter 11 debtors of asbestos insurance policies to a 11 U.S.C.S. § 524(g) trust, notwithstanding anti-assignment provisions in or incorporated in the policies and applicable state law.
Ruling: 
Debtors could assign asbestos insurance policies to 524(g) trust despite anti-assignment provisions.
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Commercial case opionion summary, case decided on March 19,2008, LexisNexis #0408-103

In re Federal-Mogul Global Inc.

Before the court was the proposed fourth amended joint plan of reorganization, as modified, for confirmation. The court separately entered an order confirming the plan for debtors and debtors in possession. The court entered findings of fact and conclusions of law with respect to the confirmation of the plan, under Fed. R. Civ. P. 52, as made applicable by Fed. R. Bankr. P. 7052 and 9014.
Ruling: 
Plans of collective companies against which 500,000 asbestos personal injury claims were pending approved.
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Commercial case opionion summary, case decided on November 08,2007, LexisNexis #0108-031

Goldstein v. Hickory Brands Inc. (In re Just for Feet Inc.)

Debtors, a corporation and others, filed a petition under chapter 11. The case was converted to one under chapter 7, and plaintiff trustee filed adversary proceedings against defendants, a corporation (supplier) and one of its divisions, seeking recovery of alleged preferential payments, pursuant to 11 U.S.C. §§ 547(b) and 550. The parties filed cross-motions for summary judgment.
Ruling: 
Ordinary course of business defense to avoidance failed where creditor failed to establish industry standards.
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Commercial case opionion summary, case decided on September 12,2007, LexisNexis #1007-101

In re W.R. Grace & Co.

Debtors moved for an order disallowing and expunging 71 property damage claims signed by a named law firm on purported behalf of various clients and filed thereafter on the ground that the firm had failed to establish that it had authority, prior to the bar date, to file such claims. At issue was whether the claims were executed by each client's "authorized agent" within the meaning of Fed. R. Bankr. P. 3001(b).
Ruling: 
71 asbestos-related claims filed by single law firm denied as based on client authorizations that were either undated or dated after bar date.
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In re W.R. Grace & Co.

The State of Montana filed a motion for relief from the automatic stay so that the debtors could be joined as third-party defendants in 120 actions currently pending against the State of Montana in Montana state courts (state court actions). These actions alleged violations of the State's independent duty to its citizens.
Ruling: 
Court denied relief from stay that would have allowed state to join debtor in 120 asbestos claims actions.
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Younger v. Pennsylvania Res. Corp. (In re Younger)

Chapter 13 debtors' attorney sought recovery of attorney's fees under 11 U.S.C. § 330(a)(4)(B). Trustee objected to the fee petition.
Ruling: 
Debtor's attorney's fees approved in reduced amount due to excessive research and unnecessary court hearings attributable to attorney's conduct.
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Official Comm. of Unsecured Creditors v. Airway Indus. (In re Airway Indus.)

The official committee of unsecured creditors for chapter 11 debtor filed a motion for an entry of an order pursuant to 11 U.S.C. §§ 503, 541, 542 and 105 directing that bonuses provided by a secured creditor and to be paid to four executives of debtor be turned over to debtor's estate or, in the alternative, disallowing or prohibiting payment of the bonuses pursuant to 11 U.S.C. § 503.
Ruling: 
Bonuses owed by secured creditor to debtor's executives pursuant to prepetition agreement were not subject to turnover.
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Bankers Trust Co. of Ca. N.A. v. Gillcrese (In re Gillcrese)

In debtor's chapter 13 case, movant bank sought a determination that the automatic stay as to property of the estate had been terminated pursuant to 11 U.S.C. § 362(c)(3)(A).
Ruling: 
Bank was denied motion seeking determination that automatic stay as to estate property had been terminated pursuant to section 362(c)(3)(A).
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Thomas v. Countrywide Home Loans Inc. (In re Thomas)

Plaintiffs, debtors, filed a complaint against defendant creditor seeking a determination of the creditor's secured status. The debtors moved for partial summary judgment. The issues were whether: (1) the creditor's secured interest fell within the antimodification provisions of 11 U.S.C. § 1322(b)(2), and (2) judicial estoppel applied due to the creditor's assertion of the property's value in an earlier proceeding.
Ruling: 
Court deemed that debtors could modify creditor's rights since escrow funds in mortgage instrument took mortgage out of anti-modification protection.
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