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In re Sentinel Mortg. Group

Ruling
Debtor's transfers of clients' segregated assets into lienable accounts were avoidable.
Issue(s)
Did investment manager's failure to properly segregate client accounts create grounds for avoidance of pledge of customer assets to a bank?

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Court :
Judge or Jurisdiction information not available
Commercial opinion summary, case decided on August 26, 2013 , LexisNexis #0913-091

Wellness Intl Network Ltd. v. Sharif

Ruling
Bankruptcy court had jurisdiction over objections to discharge but not over state law based alter ego claim.
Issue(s)
Did bankruptcy court have authority to enter final judgment on objections to discharge and creditor's state law alter ego claim against trust of which debtor was trustee.

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Court :
Judge or Jurisdiction information not available
Consumer opinion summary, case decided on August 21, 2013 , LexisNexis #0913-067

In re Sentinel Mgmt. Group

Ruling
Judgment holding that debtor's use of customer assets to finance loan was not fraudulent affirmed.
Procedural posture

Plaintiff trustee filed an adversary proceeding alleging that the debtor fraudulently used customer assets to finance a loan to cover its house trading activity and that defendant bank knew about it. There were claims of fraudulent transfer, preferential transfer, equitable subordination, and invalidation of the lien. The U.S. District Court for the Northern District of Illinois, Eastern Division, rejected the claims. The trustee appealed.

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Court :
Judge or Jurisdiction information not available
Commercial opinion summary, case decided on August 09, 2012 , LexisNexis #0812-128

Reedsburg Util. Commn v. Grede Foundries Inc. (In re Grede Foundries Inc.)

Ruling
Utility's deficiency notices violated stay where utility did not have a prepetition interest in debtor's property.
Procedural posture

Appellant, a municipal utility, challenged a decision of the U. S. District Court for the Western District of Wisconsin, affirming a bankruptcy court judgment that the utility violated the automatic stay, 11 U.S.C.S. § 362, by sending delinquency notices to appellee debtor and reporting the delinquencies to the city.

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Court :
Judge or Jurisdiction information not available
Commercial opinion summary, case decided on July 13, 2011 , LexisNexis #0811-006

In re McKinney

Ruling
Denial of creditor's objection to debtor's chapter 13 plan was not a final appealable order.
Procedural posture

Appellee debtor filed for chapter 13 bankruptcy. Appellant investor objected to the plan. The bankruptcy court denied the investor's objection. The investor appealed the denial of the objection to the United States District Court for the Central District of Illinois, which affirmed the bankruptcy court. The investor appealed.

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Court :
Judge or Jurisdiction information not available
Consumer opinion summary, case decided on June 23, 2010 , LexisNexis #0810-138

Wiese v. Community Bank of Cent. Wis.

Ruling
Bankruptcy court did not err in finding cause for terms of chapter 12 plan to remain binding on debtors after voluntary dismissal.
Procedural posture

Appellant creditor, a bank, challenged a judgment of the United States District Court for the Western District of Wisconsin reversing the bankruptcy court's decision that there was "cause" for the terms of appellee debtors' chapter 12 confirmed plan to remain binding on the parties after the debtors' voluntarily dismissed their case under 11 U.S.C.S. § 1208. The debtors moved for sanctions against the bank under Fed. R. App. P. 38.

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Court :
Judge or Jurisdiction information not available
Consumer opinion summary, case decided on January 08, 2009 , LexisNexis #0209-038