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Fursman v. Ulrich (In re First Prot. Inc.)

Nov
22
2010
Ruling
Bankruptcy court properly allowed trustee to avoid debtors' postpetition transfer of 50 percent of interest in LLC to family member.
Procedural posture

Defendant debtors appealed from a judgment of the United States Bankruptcy Court for the District of Arizona, which granted plaintiff trustee the right to avoid the debtors' postpetition transfer of 50 percent of their interest in a non-debtor limited liability company (LLC) to debtor wife's mother, under 11 U.S.C.S. § 549.

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Court :
Judge or Jurisdiction information not available
Commercial opinion summary, case decided on November 22, 2010 , LexisNexis #0111-022
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In re Fleetwood Enters.

Apr
08
2010
Ruling
Creditors' committee's motion for turnover of commitment fee paid in connection with debtor- in-possession financing order denied.
Procedural posture

The Official Committee of Creditors Holding Unsecured Claims of debtor and its affiliated debtors and debtors-in-possession filed a motion seeking turnover under 11 U.S.C.S. § 542 of a $ 2.4 million commitment fee (hereafter "fee") that debtors paid to a bank in connection with a court-approved postpetition debtor-in-possession (DIP) interim financing order.

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Commercial opinion summary, case decided on April 08, 2010 , LexisNexis #0610-123
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In re Landmark Fence Co.

Jan
14
2010
Ruling
Official committee of unsecured creditors authorized to pursue litigation rights that were property of the estate.
Procedural posture

A chapter 11 debtor in possession filed a motion to authorize an official committee of unsecured creditors (the committee) to pursue certain litigation rights that were asserted to be property of the estate: alter ego claims against the debtor's principal and certain avoidance actions. A group of creditors objected to the assignment of the alter ego claims.

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Commercial opinion summary, case decided on January 14, 2010 , LexisNexis #0310-015
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Nilsen v. Neilson (In re Cedar Funding Inc.)

Nov
16
2009
Ruling
Chapter 11 trustee not liable for allegedly defamatory statements regarding debtor's president.
Procedural posture

Appellant, the president of a company that declared chapter 11 bankruptcy, filed an action in Monterey County Superior Court (California), claiming that appellee, a trustee who was appointed to administer the company's bankruptcy estate, made defamatory statements. The trustee removed the case to the bankruptcy court for the Northern District of California, and that court dismissed the founder's claims. The president appealed.

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Court :
Judge or Jurisdiction information not available
Commercial opinion summary, case decided on November 16, 2009 , LexisNexis #0110-026
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United States v. Gould (In re Gould)

Feb
11
2009
Ruling
Bankruptcy court erred in denying IRS relief from stay to set off prepetition tax payments against prepetition liabilities.
Procedural posture

The Internal Revenue Service (IRS) sought relief from stay under 11 U.S.C.S. § 362(d)(1), (2), in order to set off the prepetition tax payments of appellee debtor against his prepetition tax liabilities under I.R.C. § 6402(a), 11 U.S.C.S. § 553. Appellant United States, on behalf of the IRS, challenged the U.S. Bankruptcy Court for the Northern District of California's order denying its motion for relief from stay.

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Court :
Judge or Jurisdiction information not available
Consumer opinion summary, case decided on February 11, 2009 , LexisNexis #0409-137
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Woods & Erickson LLP v. Leonard (In re AVI Inc.)

Jun
13
2008
Ruling
Bankruptcy court properly avoided attorneys' fees for transfer of assets to third party between dismissal and reversal of dismissal.
Procedural posture

Appellant law firm sought review of a decision of the Bankruptcy Court for the District of Nevada, which avoided a transfer of appellee debtor's assets to a third-party transferee, pursuant to 11 U.S.C.S. §§ 549 and 550. The law firm was ordered to turn over $38,354 in unauthorized legal fees made from the transfer transaction.

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Court :
Judge or Jurisdiction information not available
Commercial opinion summary, case decided on June 13, 2008 , LexisNexis #0808-034
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Drummond v. Wiegand (In re Wiegand0

Apr
03
2008
Ruling
Confirmation order reversed due to inconsistency of calculation of current monthly income according to Form 22C and the plain language of §1325(b)(2).
Procedural posture

Appellant trustee sought review of an order of the Bankruptcy Court for the District of Montana, which overruled his objection to confirmation of appellee debtors' chapter 13 plan.

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Court :
Judge or Jurisdiction information not available
Consumer opinion summary, case decided on April 03, 2008 , LexisNexis #0608-057
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