- 11 U.S.C.
Kelley v. Opportunity Fin. LLC (In re Petters Co.)
May
31
2016
Ruling
Trustee could recover of at least the ostensible interest-component that debtors paid to certain defendants and other investors pursuant to alleged Ponzi scheme.
Issue(s)
To what extent could trustee avoid certain transactions that were part of a Ponzi scheme under a state uniform fraudulent transfer act?
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Court
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Kelley v. Opportunity Fin. LLC (In re Petters Co.)
May
19
2016
Ruling
Substantive consolidation did not affect trustee's avoidance rights.
Issue(s)
Whether in application of the state law of fraudulent transfer, after the substantive-consolidation of the estates of multiple debtors, the trustee may use the standing of a prepetition creditor of one of those debtor-entities to satisfy the predicate-creditor requirement for the avoidance of a pre-petition transfer made by another of the debtor-entities, where the proposed predicate creditor itself had no pre- petition claim against the transferor-debtor.
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Court
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Kelley v. Associated Bank (In re Petters Co.)
Feb
29
2016
Ruling
Ponzi scheme presumption could not serve as basis for holding that transfers to bank to cover overdrafts were fraudulent.
Issue(s)
Were transfers to debtor's bank to cover overdrafts avoidable as fraudulent?
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Court
:
- 11 U.S.C.
Stoebner v. Opportunity Fin. LLC (In re Polaroid Corp.)
Jan
14
2016
Ruling
Trustee could not avoid transfers by companies owned by debtor's owner but that were not currently in bankruptcy.
Issue(s)
Could transfers by nondebtor companies owned by debtor's owner be avoided?
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Court
:
Loos v. Koperski (In re Koperski)
Nov
05
2015
Ruling
Bankruptcy court exercised discretionary abstention with regard to state law defamation claims brought by debtor's former spouse.
Issue(s)
Should the bankruptcy court abstain from hearing and determining debtor's former spouse's defamation claims?
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Court
:
- 28 U.S.C.
Le v. Wells Fargo Bank N.A. (In re Le)
Sep
18
2015
Ruling
Debtors' proceeding against mortgage company regarding prepetition foreclosure, on which right of redemption had expired, dismissed for lack of jurisdiction.
Issue(s)
Did the bankruptcy court have jurisdiction over debtor's proceeding against bank based on prepetition mortgage foreclosure?
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Court
:
- 11 U.S.C.
In re Brown
Sep
11
2015
Ruling
Debtor could not strip down debt secured by junior lien assumed by former spouse and transferred to debtor as part of divorce settlement.
Issue(s)
Could debtor reclassify creditor's claim reclassified from secured to unsecured, modify the terms of the mortgage for the duration of the chapter 13 plan, and avoid the creditor's mortgage entirely upon discharge?
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Court
:
- 28 U.S.C.
Faricy Law Firm P.A. v. A.P.I. Inc. Asbestos Settlement Trust
Sep
09
2015
Ruling
Bankruptcy court lacked jurisdiction over postconfirmation attorneys' fee claim filed against asbestos trust for chapter 11 debtor in case that had been closed.
Issue(s)
Could bankruptcy court hear a postconfirmation attorneys' fee claim filed against chapter 11 debtor's asbestos trust after the case had been closed?
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Court
:
- 11 U.S.C.
Kelley v. Opportunity Fin. LLC (In re Petters Co.)
Jun
11
2015
Ruling
Trustee could seek avoidance of transfers by debtor Ponzi scheme operator to charities.
Issue(s)
Were charities that received payment from debtor that operated a Ponzi scheme entitled to dismissal of trustee's avoidance claims?
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Court
:
- 11 U.S.C.
In re American Res. & Energy LLC
Jul
15
2014
Ruling
Involuntary case dismissed due to existence of bona fide disputes with three petitioning creditors.
Issue(s)
Whether the petitioning creditors' claims were "not contingent as to liability or the subject of a bona fide dispute as to liability or amount," as required of petitioning creditors in an involuntary case and whether the petition was even properly brought by the petitioning creditors?
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Court
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