Judge Cox

Computer World Solution Inc. v. Apple Fund LP (In re Computer World Solutions Inc.)

Chapter 11 debtor filed adversary an complaint against defendant creditor, a lender that had collected a partial repayment of its loan from the debtor during the preference period prior to the filing of an involuntary chapter 11 petition against the debtor. The debtor sought to avoid the repayment as a preferential transfer under 11 U.S.C.S. § 547.
Ruling: 
Involuntary debtor's preference period payments on loan which was disguised as income avoided.
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Commercial case opionion summary, case decided on March 17,2010, LexisNexis #0610-018

Leibowitz v. First Chicago Bank & Trust (In re IFC Credit Corp.)

Chapter 7 trustee sought a preliminary injunction pursuant to 11 U.S.C.S. § 105(a) to stay lawsuits brought by defendant creditors against former officers and directors of the debtor. The trustee's motion also sought to enjoin any attempts by the former officers and directors to incur legal defense expenses or otherwise obtain possession or control of the proceeds of the debtor's directors and officers policy (the policy).
Ruling: 
Debtor's former officers' and directors' lawsuits enjoined for 90 days.
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Commercial case opionion summary, case decided on January 27,2010, LexisNexis #0310-072

In re IFC Credit Corp.

A creditor moved to dismiss the bankruptcy case of a chapter 7 debtor on the grounds that the proceeding was null because it was filed pro se on behalf of a corporation. The debtor and certain other creditors opposed the motion to dismiss.
Ruling: 
Motion to dismiss case filed pro se on behalf of corporation denied where properly amended with signature of attorney.
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Commercial case opionion summary, case decided on December 16,2009, LexisNexis #0110-129

In re Local Union 722 Intl Brotherhood of Teamsters

Movant creditor sought dismissal of debtor's chapter 11 bankruptcy case pursuant to 11 U.S.C.S. § 1112(b).
Ruling: 
Chapter 11 case dismissed as being essentially a two-party dispute.
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Commercial case opionion summary, case decided on October 06,2009, LexisNexis #1109-060

In re Lancelot Investors Fund LP

Debtors filed for bankruptcy protection under chapter 7 of the Bankruptcy Code after an alleged Ponzi scheme was uncovered. Defendants, a family trust and others, filed a complaint against a partnership, which provided auditing and financial services to the debtors, in the Fourth Judicial District of Hennepin County District Court in Minnesota. Plaintiff trustee moved for a preliminary injunction staying defendants' lawsuit.
Ruling: 
Action by investors in debtor's alleged Ponzi scheme stayed due tot substantial overlap with efforts of trustee.
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Commercial case opionion summary, case decided on July 17,2009, LexisNexis #0809-072

Wellness Intl Network v. JPMorgan Chase Bank (In re Sharif)

In adversary proceedings, respondents, individual litigants and a bankruptcy debtor, sought to remove two actions filed by petitioner corporation--a garnishment action from Texas state court and a collection proceeding filed in the U.S. District Court for the Northern District of Texas-- to make them part of respondent debtor's bankruptcy case. Movants. the corporation and two other litigants, requested that the notices of removal be dismissed.
Ruling: 
There is no legal authority to "remove" a district court case to bankruptcy court.
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Consumer case opionion summary, case decided on July 02,2009, LexisNexis #0809-096

In re Lunkes

Before the court was the objection of the chapter 7 trustee to an exemption claimed by debtor in his interest in a trust.
Ruling: 
Debtor could not claim exemption in trust that was not a spendthrift trust according to its language.
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Consumer case opionion summary, case decided on July 02,2009, LexisNexis #0809-048

In re Orvis Enters.

Movant chapter 11 debtor filed a motion under 11 U.S.C.S. § 365 to reject a lease to the extent that the lease remained unexpired. Respondents, a lessee and an assignee, opposed the motion.
Ruling: 
Option to purchase was not executory contract where debtor lessor breached lease prepetition by refusing to honor the option.
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Commercial case opionion summary, case decided on January 08,2009, LexisNexis #0209-042

In re Teknek LLC

The chapter 7 trustee applied to employ an attorney and his law firm A judgment creditor of the debtor, and several persons or entities associated with the debtor filed objections to the employment of the attorney. The attorney had previously represented the judgment creditor in litigation against various parties related to the debtor, and the trustee sought to employ him to litigate against those same parties in an unrelated adversary action.
Ruling: 
Attorney who had represented estate's primary creditor could not be employed by trustee due to potential conflict of interest.
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Commercial case opionion summary, case decided on October 20,2008, LexisNexis #1208-060

In re Teknek LLC

A debtor filed for relief under chapter 7 of the Bankruptcy Code. Several interested parties associated with the bankruptcy proceedings objected to the application of a Chapter 7 trustee to employ an attorney and his law firm.
Ruling: 
Trustee's application to employ attorney denied as attorney had conflict with primary creditor and was not disinterested.
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Commercial case opionion summary, case decided on October 17,2008, LexisNexis #1108-095

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