Judge Carey

In re Qualtec Inc.

Creditor bank filed a motion to transfer venue of the jointly administered chapter 11 cases to the United States Bankruptcy Court for the Northern District of Illinois, based on the convenience of the parties and the interests of justice, pursuant to 28 U.S.C.S. § 1412 and Fed. R. Bankr. P. 1014(a).
Ruling: 
Venue transferred to state where debtors were organized and headquartered and where most creditors were located.
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Commercial case opionion summary, case decided on February 16,2012, LexisNexis #0312-065

Troisio v. Erickson (In re IMMC Liquidating Estate)

Trustee of a liquidating trust for a bankruptcy debtor brought an adversary proceeding against defendants, but the bankruptcy court determined that it lacked jurisdiction over the proceeding. The trustee moved to transfer the proceeding to a district court or to allow the trustee to seek withdrawal of the bankruptcy reference.
Ruling: 
Trustee could seek withdrawal of reference to bankruptcy court on diversity grounds.
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Commercial case opionion summary, case decided on February 14,2012, LexisNexis #0312-102

In re New Century TRS Holdings Inc.

Debtor businesses declared chapter 11 bankruptcy and proposed a plan that asked the court to establish a trust to liquidate assets they owned. The court approved the plan and the appointment of a trustee, and the trustee filed an objection under 11 U.S.C.S. § 502(b), Fed. R. Bankr. P. 3001 and 3007, and Bankr. D. Del. R. 3007-1 to a claim that was filed by an unknown creditor almost four years after the court approved the plan.
Ruling: 
Claim filed by unknown creditor more than four years after plan approval disallowed.
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Commercial case opionion summary, case decided on February 07,2012, LexisNexis #0212-113

In re Tribune Co.

Before the court were two competing plans of reorganization for the debtors: one proposed jointly by the debtors, the Official Committee of Unsecured Creditors, and certain senior lenders (the DCL Plan), and one proposed jointly by the holders of certain bonds that were issued prior to a 2007 leveraged buyout of the parent company (the Noteholder Plan). The court considered the confirmability of the plans under 11 U.S.C.S. § 1129.
Ruling: 
Confirmation of plans proposed by debtors with Official Committee of Unsecured Creditors and by bond holders denied.
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Commercial case opionion summary, case decided on October 31,2011, LexisNexis #1111-095

In re New Century Trs. Holdings Inc.

An evidentiary hearing was held on March 26, 2009 to consider the liquidating trust's objection to a claim filed by a claimant who requested payment of administrative expenses.
Ruling: 
Untimely filed insufficient claim disallowed as both administrative expense claim and general unsecured claim.
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Commercial case opionion summary, case decided on April 11,2011, LexisNexis #0511-009

In re Midwest Props. of Shawano LLC

Debtors, a holding company that owed real property in Wisconsin and an oil company that owed real property in Minnesota, filed separate pro se petitions under Chapter 11 of the Bankruptcy Code, and after both cases were assigned to the District of Delaware, the United States Trustee (UST) filed motions in both cases, seeking an order converting or dismissing both cases or appointing a Chapter 11 trustee. The debtors opposed the UST's motions.
Ruling: 
Cases dismissed where businesses were operating with losses and did not submit viable chapter 11 plans.
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Commercial case opionion summary, case decided on December 20,2010, LexisNexis #0111-094

In re AbitibiBowater Inc.

In this Chapter 11 case, the debtors filed a request for confirmation of their Second Amended Joint Plan of Reorganization (the Plan). Objections to the Plan were filed, including a lack of good faith objection under 11 U.S.C.S. § 1129(a)(3).
Ruling: 
Decision not to pursue fraudulent transfer proceeding against investor did not give rise to lack of good faith.
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Commercial case opionion summary, case decided on November 22,2010, LexisNexis #1210-061

In re Centaur LLC

The debtors' official committee of unsecured creditors filed a motion, pursuant to 11 U.S.C.S. §§ 105(a), 1103(c), and 1109(b), for entry of an order granting them leave, standing, and authority to prosecute and, if appropriate, settle claims on behalf of the debtors' estates.
Ruling: 
Creditors' committee granted leave to prosecute colorable claims but with limitation on professional fees to be incurred.
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Commercial case opionion summary, case decided on November 05,2010, LexisNexis #1210-057

In re WCI Cmtys. Inc.

A commercial lessor that leased certain real property to a chapter 11 debtor filed an application for an allowed administrative expense claim pursuant to 11 U.S.C.S. § 365(d)(3) and /or 11 U.S.C.S. § 503(b). It sought administrative expense priority for its claim against the debtor for certain ad valorem taxes owing under the leases.
Ruling: 
Commercial lessor not entitled to administrative expense claim for taxes not supported by terms of lease.
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Commercial case opionion summary, case decided on September 02,2010, LexisNexis #0910-115

In re Spansion Inc.

Debtors filed separate petitions under chapter 11 of the Bankruptcy Code, and their cases were consolidated for joint administration. An Ad Hoc Committee of Equity Security Holders filed a motion seeking appointment of an Official Committee of Equity Security Holders pursuant to 11 U.S.C.S. § 1102. The motion was opposed by the debtors, an Official Committee of Unsecured Creditors, other creditors, and the U.S. Trustee.
Ruling: 
Bankruptcy court declined to appoint official committee of equity security holders absent showing that members would receive meaningful distribution.
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Commercial case opionion summary, case decided on December 18,2009, LexisNexis #0110-060

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