In re Jack Kline Co.
Sep
30
2010
Ruling
Oversecured creditor could not retain proceeds of sale of debtor's property to cover attorneys' fees and interest for which creditor did not seek approval.
Procedural posture
Upon a sale of a bankruptcy debtor's real property, a creditor which was over-secured by the property retained proceeds of the sale to the extent of the amount of the creditor's lien plus postpetition attorney fees and postpetition interest at a default rate. The bankruptcy trustee moved to surcharge the creditor for expenses of the sale and objected to allowance of the creditor's claim for postpetition fees and interest.
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Court
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In re Demay Intl LLC
Jun
09
2010
Ruling
Creditor held a secured claim in proceeds of sale of electrical equipment pursuant to originally perfected mechanics' lien.
Procedural posture
Debtor filed a petition under chapter 11 of the Bankruptcy Code and claimant, a company that sold electrical equipment, filed a secured claim in the amount $ 337,279 against the debtor's bankruptcy estate. The debtor filed an objection to the claim, arguing that the claim should be disallowed as a secure claim. The court allowed the debtor's largest creditor to join the debtor's objection, and the creditor filed a motion for summary judgment.
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Court
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In re Lots by Murphy Inc.
Mar
22
2010
Ruling
Case dismissed as filed in bad faith where debtor was ineligible for discharge and had no assets to liquidate.
Procedural posture
A trustee and an interested party filed a motion to dismiss a chapter 7 debtor's bankruptcy petition pursuant to 11 U.S.C.S. § 707(a) on the grounds that it was filed in bad faith. The debtor opposed the motion.
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Court
:
- 11 U.S.C.
In re Bigler LP
Feb
09
2010
Ruling
Retention of banking firm as financial advisor approved over objection of official committee of unsecured creditors.
Procedural posture
The chapter 11 debtors filed an application under 11 U.S.C.S. §§ 327 and 330 for interim and final orders authorizing the debtors to retain and employ an investment banking firm as a financial advisor. The official committee of secured creditors and three other secured creditors objected to the investment banking firm's insistence on a "tail period" provision.
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Court
:
- 11 U.S.C.
Wallace v. Perry (In re Perry)
Feb
03
2010
Ruling
Damages for breach of contract and defamation were nondischargeable.
Procedural posture
Plaintiffs, a mayor, a former partner, and two trusts, filed an adversary proceeding against defendant chapter 11 debtor, seeking a judgment that the debtor committed breach of contract and defamation, and a determination that damages the debtor owed were nondischargeable under 11 U.S.C.S. § 523(a)(2), (4), and (6). The court struck plaintiffs' claims under § 523(a)(2) and (4) because of discovery misconduct, and tried plaintiffs' other claims.
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Court
:
- 11 U.S.C.
In re Energy Partners Ltd.
Dec
31
2009
Ruling
Creditor entitled to administrative expense for legal fees and expenses due to substantial contribution to case.
Procedural posture
In this chapter 11 case, a creditor sought reimbursement of legal fees and expenses in the amount of $ 61,480 pursuant to 11 U.S.C.S. §§ 503(b)(3)(D) and (b)(4). The debtor objected to the request on the sole ground that the creditor did not provide a substantial contribution to the case as required by 11 U.S.C.S. § 503(b)(3)(D).
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Court
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Hernandez v. Argent Sec. Inc. (In re Hernandez)
Dec
07
2009
Ruling
Debtor's objections to mortgagee's claim overruled.
Procedural posture
Plaintiff bankruptcy debtor brought an adversary proceeding against defendants, a putative holder of the debtor's mortgage loan and the loan servicer, alleging that the servicer lacked standing to file a proof of claim based on the mortgage note, that the alleged postpetition assignment of the note was invalid, and that the debtor was fraudulently induced into executing the note. The defendants moved to dismiss the complaint.
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Court
:
- 11 U.S.C.
In re Gilbreath
Nov
19
2009
Ruling
Creditor LLC's proofs of claim disallowed due to insufficient reporting information.
Procedural posture
Debtors filed a petition under chapter 13 of the Bankruptcy Code and an LLC filed claims against the debtor's bankruptcy estate, seeking payment of unsecured credit card debt the debtors allegedly owed. The debtors filed objections to the LLC's claims.
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Court
:
- 11 U.S.C.
In re Royce Homes LP
Sep
23
2009
Ruling
Debtor's representative ordered to locate and turn over documents required by trustee.
Procedural posture
Chapter 7 trustee filed a motion to compel the representative of the debtor to turn over several documents and other information regarding the debtor's bankruptcy estate.
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Court
:
- 11 U.S.C.
In re Las Torres Dev. LLC
Sep
17
2009
Ruling
Debtor shopping center could use cash collateral to pay administrative expenses but debtor developer in jointly administered case could not.
Procedural posture
The debtors a jointly administered chapter 11 cases requested permission to use the cash collateral of one of the debtors--consisting solely of rental income--to pay both debtors' continuing obligations during the pendency of their respective bankruptcy cases pursuant to 11 U.S.C.S. § 363. A secured creditor objected to their request.
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Court
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