- 11 U.S.C.
Taylor-Wharton Intl LLC v. Blasingame (In re Taylor-Wharton Intl LLC)
Nov
23
2010
Ruling
Assumption of liabilities in purchase agreement was not executory and not covered by debtors' rejection.
Procedural posture
Defendants, a creditor and a gas service company, moved to dismiss an adversary complaint filed by plaintiffs, Chapter 11 debtors, asking the court for a judgment declaring that debtors' prior rejection of a Purchase Agreement between debtors and the company foreclosed claims now being brought by the creditor in a federal court. Dismissal was sought on a claim that the complaint failed to state a claim.
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Court
:
- FRBP
Whyte v. Kiviston (In re Kiviston)
Nov
19
2010
Ruling
Settlement of charges related to commodities trading approved over objections from party lacking cognizable due process rights affected by contribution bar.
Procedural posture
Before the court was the joint motion of a litigation trust trustee for an order approving settlement, Fed. R. Bankr. P. 9019. An objector filed an objection. The trustee alleged 30 counts against various defendants primarily related to their involvement with, in part, debtors' commodities trading and certain interested transactions. The complaint asserted fraudulent transfer, breach of fiduciary duty, breach of contract, and unjust enrichment.
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Court
:
In re Accuride Corp.
Nov
17
2010
Ruling
Debtor who complied with plan obligations not obligated to make additional distributions due to defective subscription submissions by creditor rights offering participant.
Procedural posture
Movant, a rights offering participant, brought a motion to enforce debtor's third amended joint plan of reorganization (the Plan) for the purpose of ordering debtor to make an additional distribution to said participant. Debtor opposed the motion.
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Court
:
- 11 U.S.C.
Kenton v. Fast Cash Realty (In re Kenton)
Nov
17
2010
Ruling
Mortgage granted while debtor was insolvent for which debtor did not receive equivalent value could be avoided.
Procedural posture
In a Chapter 13 bankruptcy case, the debtor sought to void three mortgages granted to defendants, a real estate company, the company's owner, and one individual, as fraudulent under 11 U.S.C.S. § 548(a)(1)(B). The agreement of sale was entered into on February 3, 2007, and the debtor filed for bankruptcy on December 1, 2009, a month before the last sale agreement extension was set to expire.
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Court
:
- 11 U.S.C.
Elway Co. v. Miller (In re Elrod Holdings Corp.)
Jan
08
2010
Ruling
Fraudulent transfer proceedings failed due to inability to demonstrate actual intent or constructive fraud.
Procedural posture
Before the court were motions by plaintiff, a limited liability partnership, and its three owners for partial summary judgment on four counterclaims made against them by a defendant, the chapter 7 trustee. The trustee sought (i) as to 11 U.S.C.S. § 548, avoidance of allegedly fraudulent transfers to the partnership and its three owners, and (ii) equitable subordination of the partnership's secured and unsecured claims.
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Court
:
In re Quinn
Dec
29
2009
Ruling
Chapter 13 case was not filed in bad faith where debtors intentionally damaged home that was subject to sheriff's sale but acted in good faith towards all other creditors.
Procedural posture
Creditor sought to dismiss the debtors' chapter 13 proceeding as not being brought in good faith, pursuant to 11 U.S.C.S. § 1307(c). In the alternative, the creditor sought leave to amend its claim to include an additional unsecured claim. The cross-movant debtors requested approval to modify their chapter 13 bankruptcy plan, based on a debilitating back injury suffered by the debtor husband.
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Court
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In re Freedom Communs. Holdings Inc.
Oct
15
2009
Ruling
Debtor allowed use of cash collateral to operate business as necessary to reorganization and in best interest of estate.
Procedural posture
Chapter 11 debtors filed a motion seeking, among other things, authorization to use cash collateral for the ongoing operation of their businesses. The debtors also moved for the granting of adequate protection, pursuant to 11 U.S.C.S. § 363(e), to prepetition lenders and agent.
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Court
:
- 11 U.S.C.
In re SemCrude LP
Oct
07
2009
Ruling
Debtor's agent ordered to supplement objection to administrative expense claim of "twenty day" creditors.
Procedural posture
The agent for the debtors' primary prepetition and postpetition secured lenders, filed an objection to the administrative priority claims of numerous "twenty-day" creditors against the debtors pursuant to 11 U.S.C.S. § 503(b)(9), who traded in oil and gas goods with the debtors.
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Court
:
- 11 U.S.C.
Vess Oil Corp. v. SemCrude LP (In re SemCrude LP)
Oct
05
2009
Ruling
Funds found to be held in resulting trust for creditor ordered remitted.
Procedural posture
Plaintiff brought a motion for summary judgment on its resulting trust claim. Defendant debtors cross-moved for summary judgment. Other ancillary motions and objections were also pending.
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Court
:
- 11 U.S.C.
In re Reeves
May
18
2009
Ruling
Objection to confirmation sustained where debtors failed to devote all projected disposable income to plan.
Procedural posture
A creditor objected to confirmation of the debtors' chapter 13 bankruptcy plan.
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Court
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