Arizona

Wells Fargo Bank v. Meda (In re Schugg)

Appellant creditor challenged the Bankruptcy Court for the District of Arizona's order awarding attorneys' fees against it to debtor's bankruptcy estate. Appellee was the trustee.
Ruling: 
Award of attorneys' fees reversed due to debtor's lack of standing to assert estate's claim.
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Consumer case opionion summary, case decided on September 03,2008, LexisNexis #1008-028

In re Prods. Intl Co.

Debtor corporation filed a petition under chapter 11 of the Bankruptcy Code and operated as a debtor-in-possession. Five months after it filed its petition, the debtor filed a motion to dismiss its bankruptcy action, pursuant to 11 U.S.C.S. § 1112(b). A person (part owner) who owned an interest in the debtor opposed the debtor's motion and filed a cross-motion for appointment of a chapter 11 trustee.
Ruling: 
Voluntary dismissal denied and chapter 11 trustee appointed due to improper transfers by majority owners to other entities they controlled.
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Commercial case opionion summary, case decided on September 02,2008, LexisNexis #1108-047

In re Regevig

Debtors filed a petition under chapter 7 of the Bankruptcy Code, and a trustee was appointed to represent the bankruptcy estate. The trustee filed an objection to exemptions the debtors claimed for four vehicles, pursuant to Cal. Code Civ. Proc. § 703.140(b), and the bankruptcy court found that § 703.140(b) violated the Supremacy Clause of the U.S. Constitution. The debtors filed a motion for reconsideration or for a new trial.
Ruling: 
State bankruptcy-only exemption was unconstitutional.
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Consumer case opionion summary, case decided on August 21,2008, LexisNexis #0908-076

Hall v. United States (In re Hall)

Appellant debtors sought review of a decision of the United States Bankruptcy Court for the District of Arizona, which sustained the objection of appellee Internal Revenue Service (IRS) to the chapter 12 plan under 11 U.S.C.S. § 1222(a)(2)(A) and determined that the debtors were personally liable for federal capital gains taxes incurred from the post-petition sale of farming real property.
Ruling: 
Chapter 12 debtors' postpetition capital gains taxes on proceeds from sale of farm equipment were an administrative expense and unsecured nonpriority claim.
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Consumer case opionion summary, case decided on August 07,2008, LexisNexis #1108-049

In re First Magnus Fin. Corp.

Claimants, former employees of a debtor, sought to recover as a priority administrative expense under 11 U.S.C.S. § 503(b)(1)(A)(ii) wages for pre-petition services and attorneys'fees as damages pursuant to the Worker Adjustment and Retraining Notification (WARN) Act, 29 U.S.C.S. § 2101 et seq. The debtor and the Official Committee of Unsecured Creditors opposed the motion.
Ruling: 
Creditors under Worker Adjustment and Retraining Notification Act (WARN) not entitled to administrative expense claims.
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Commercial case opionion summary, case decided on June 20,2008, LexisNexis #0708-115

In re Watkins

The United States Trustee asserted that bankruptcy debtors, in calculating their monthly disposable income, improperly claimed vehicle ownership expenses for vehicles which they owned free and clear of liens, and expenses for repayment of a loan from an employee retirement plan. The Trustee moved to dismiss the debtors' case under 11 U.S.C.S. § 707(b)(2)(A) based on the presumption of abuse of chapter 7 bankruptcy.
Ruling: 
Debtor not entitled to standard vehicle ownership expense deduction for vehicles owned free and clear.
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Consumer case opionion summary, case decided on June 18,2008, LexisNexis #0708-124

In re First Magnus Fin. Corp.

A corporate debtor filed a petition under chapter 11 of the Bankruptcy Code, and asked the court for approval to hire a financial group to help liquidate the debtor's bankruptcy estate. The court approved the debtor's request and entered an order awarding the financial group compensation. The financial group filed a motion which asked the court to reconsider its award.
Ruling: 
Approved financial professional group not entitled to compensation in excess of court approved compensation.
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Commercial case opionion summary, case decided on June 12,2008, LexisNexis #0808-003

Zimmerman v. Maney

Appellants, officers of a corporation that sold property of debtors, a married couple who filed a chapter 13, challenged an order of the Bankruptcy Court for the District of Arizona granting summary judgment to the chapter 13 trustee on a claim to avoid transfer of the property to defendants, including appellants and others, and holding said parties jointly and severally liable for the proceeds thereof per 11 U.S.C.S. § 550(a)(1).
Ruling: 
Bankruptcy court properly avoided transfer of balance of proceeds of estate property sale where no abandonment had occurred.
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Consumer case opionion summary, case decided on April 30,2008, LexisNexis #0608-065

In re First Magnus Fin. Corp.

An estate professional that failed to get court pre-approval for its services under 11 U.S.C.S. § 327 and Fed. R. Bankr. P. 2014 filed a motion under Fed. R. Civ. P. 59 to alter or amend the court's order rejecting its request for a commission.
Ruling: 
Hiring of professional to conduct court-approved sale aproved retroactively.
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Commercial case opionion summary, case decided on February 28,2008, LexisNexis #0408-002

Smith v. Shearman & Sterling (In re BCE West LP)

Plaintiff chapter 11 Plan Trustee filed an adversary proceeding against defendant law firm seeking to avoid a payment under 11 U.S.C.S. § 547. The law firm was hired by a special committee of the board of directors of the debtor to advise it in connection with a proposed merger and roll up transaction. The law firm asserted that the payments were made in the ordinary course of business under 11 U.S.C.S. § 547(c)(2).
Ruling: 
Payments to law firm for one transaction were not avoidable as made in the ordinary course of business as consistent with debtor's payments to other professional service providers.
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Commercial case opionion summary, case decided on February 28,2008, LexisNexis #0408-067

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