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Ashland Inc. v. G-I Holdings Inc. (In re G-I Holdings, Inc.)

Dec
21
2016
Ruling
Mandatory abstention required as action could be timely adjudicated in state court. (Bankr.D.N.J.)
Issue(s)
Bankruptcy Cases and Proceedings; Abstention; Mandatory Abstention.

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Commercial opinion summary, case decided on December 21, 2016 , LexisNexis #0117-117
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Bond v. Vining Sparks IBG LP (In re U.S. Mortg. Corp.)

Apr
23
2013
Ruling
Trustee's state law and strong arm, conspiracy and conversion claims dismissed as falling within safe harbor provisions.
Procedural posture

Securities broker and agents moved to dismiss plaintiff liquidating trustee's adversary proceeding pursuant to Fed. R. Civ. P. 12(b)(6), 8(a), 9(b). The trustee moved for leave to file a second amended complaint. The complaints alleged a massive fraud had been orchestrated by the principal officer of the debtor involving the broker and agents, who asserted the safe harbor defense under 11 U.S.C.S. § 546(e).

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Commercial opinion summary, case decided on April 23, 2013 , LexisNexis #0513-056
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In re G-I Holdings Inc.

Aug
13
2012
Ruling
Claims by former members of nonprofit corporation formed by asbestos producers disallowed due to lack of standing.
Procedural posture

Former members of a nonprofit corporation formed by producers of asbestos to resolve asbestos claims against the producers asserted claims against a bankruptcy debtor, alleging that the debtor as a former member of the corporation breached a contract with the corporation to pay its share of asbestos claims, which caused the members to pay the debtor's share. The debtor objected to the claims and moved for summary judgment.

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Commercial opinion summary, case decided on August 13, 2012 , LexisNexis #0912-035
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In re G-1 Holdings Inc.

Nov
12
2009
Ruling
Plan incorporating global settlement of asbestos claims against debtor approved over objection of the United States.
Procedural posture

In a chapter 11 case, the debtors, together with a committee of asbestos claimants, filed an amended joint plan of reorganization (the Plan) and sought confirmation. The Internal Revenue Service (IRS or United States) filed objections to the plan and sought permission to vote on the plan.

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Commercial opinion summary, case decided on November 12, 2009 , LexisNexis #1209-104
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