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Arizona

In re Tescione

A creditor obtained a judgment against a bankruptcy debtor after the debtor fraudulently transferred real property, as determined by a state court, and the debtor claimed an exemption in the property which was subsequently reconveyed to the debtor. The debtor moved to avoid the creditor's judicial lien as impairing the exemption under 11 U.S.C.S. § 522(f)(1).
Ruling: 
Debtor could not avoid judicial lien as impairing exemption while title to the property was held by fraudulent transferee.
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Consumer case opionion summary, case decided on November 16,2009, LexisNexis #0110-015

In re AVC Villa Del Lago at Ocotillo Devco LLC

Two moving creditors filed a motion to alter or amend the order of confirmation entered, pursuant to 11 U.S.C.S. § 1121(c), in one of several companion cases, asserting that they should not be bound by the terms of the plan, which included the settlement and dismissal of litigation against the debtor.
Ruling: 
Creditors, plaintiffs in state court case against debtor, who had sufficient notice were bound by terms of confirmed plan.
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Commercial case opionion summary, case decided on October 27,2009, LexisNexis #1209-024

In re Gibson

Debtors filed a petition under chapter 13 of the Bankruptcy Code and a plan for repaying their creditors. The court confirmed the debtors' plan on July 24, 2005, and in 2009, the debtors filed a modified plan. A chapter 13 trustee who was appointed to administer the debtor's bankruptcy estate filed a motion to dismiss the case, claiming that the debtors failed to comply with the terms of the confirmed plan.
Ruling: 
Plan modification denied for not providing for distribution equal to value of nonexempt property on original confirmation date.
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Consumer case opionion summary, case decided on October 06,2009, LexisNexis #1009-138

In re Dewey Ranch Hockey LLC

Debtors, a National Hockey League team and three related entities, filed chapter 11 bankruptcy reorganization cases. The National Hockey League (NHL) and a partnership submitted two competing bids to purchase the team to the court.
Ruling: 
Bid to purchase NHL team free and clear and move it to Canada denied due to lack of adequate protection.
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Commercial case opionion summary, case decided on September 30,2009, LexisNexis #1109-042

Goodman v. California Portland Cement Co. (In re GTI Capital Holdings LLC)

Plaintiff guarantors filed an action in the Maricopa County Superior Court (Arizona), alleging that defendants, a California corporation and others, committed fraud and engaged in racketeering. Defendants removed the action to the bankruptcy court, and the guarantors filed a motion to remand. Defendants filed a motion to dismiss the guarantors' claims and sought an order prohibiting the guarantors from filing further actions.
Ruling: 
Bankruptcy court had ancillary jurisdiction over dispute between creditors and debtors' guarantors.
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Commercial case opionion summary, case decided on September 15,2009, LexisNexis #1109-035

In re DSBC Invs. LLC

In this chapter 11 case, an oversecured creditor whose debt had been fully paid pursuant to a confirmed plan, sought prepetition and postpetition late charges and default interest. The creditor also sought attorneys' fees under 11 U.S.C.S. § 506(b).
Ruling: 
Creditor that received full payment pursuant to chapter 11 plan was not entitled to default rate of interest.
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Commercial case opionion summary, case decided on September 11,2009, LexisNexis #1009-112

In re Dewey Ranch Hockey LLC

Bankruptcy debtors, entities related to a professional hockey franchise, moved for authority to sell substantially all of the assets of the franchise free and clear of liens and encumbrances. The debtors also moved for approval of an asset purchase agreement which included a provision for relocation of the franchise without the consent of the league of which the franchise was a member.
Ruling: 
Motion for assumption and assignment of debtor's executory contract with hockey league denied due to provision requiring league consent.
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Commercial case opionion summary, case decided on June 15,2009, LexisNexis #0809-005

In re Kile

A chapter 7 bankruptcy trustee filed a notice of proposed distribution and an application for compensation. The trustee requested the maximum allowable fee under 11 U.S.C.S. § 326(a), in the sum of $ 13,740.66, and reimbursement of $ 240.64 in costs. In response, the debtor filed objections to the trustee's request for compensation and for distribution. The trustee replied. A hearing was held on the matters.
Ruling: 
Trustee allowed maximum fee for non-routine work in case that lasted several years.
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Consumer case opionion summary, case decided on June 11,2009, LexisNexis #0809-028

In re Lyons

A creditor objected to confirmation of the debtors'proposed chapter 13 plan, challenging, inter alia, the proposal to reduce the interest rate from the contractual rate set forth in a motor vehicle retail installment sales contract.
Ruling: 
Hanging paragraph does not require payment of interest at contract rate.
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Consumer case opionion summary, case decided on May 13,2009, LexisNexis #0709-020

In re Tempe Land Co. LLC

A bankruptcy debtor-in-possession sought to borrow money and grant a lien to the new lender which would be senior in priority to existing lienholders. The debtor moved to borrow the money on a priming basis pursuant to 11 U.S.C.S. § 364.
Ruling: 
Debtor-in-possession financing denied due to insufficient protections for existing lienholders.
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Commercial case opionion summary, case decided on May 01,2009, LexisNexis #0709-010

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