Affordable Auto Repair, Inc., In re
Sep
02
2020
Ruling
Motion for the approval of Chapter 11 disclosure statement was granted with all rightsreserved to the United States Trustee and any interested party to take appropriate action.(Bankr. C.D. Cal.)
Issue(s)
Acceptance of Plan; Lack of Good Faith.
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Court
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Fagerdala USA-Lompoc, Inc., In re--Pac. W. Bank v. Fagerdala USA-Lompoc, Inc.
Jun
04
2018
Ruling
Bankruptcy court erred when it refused to analyze whether the secured creditor acted under an ulterior motive beyond its mere enlightened self-interest in protecting its secured claim. (9th Cir.)
Issue(s)
Acceptance of Plan; Lack of Good Faith.
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Judge or Jurisdiction information not available
In re Sandia Resorts, Inc.
Nov
04
2016
Ruling
Agreement between secured creditor plan proponent and unsecured creditor whose supportthe proponent sought was not grounds for rejection of the unsecured creditor’s vote. (Bankr.D.N.M.)
Issue(s)
Acceptance of Plan; Lack of Good Faith.
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Court
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( Judge Jacobvitz ) [ Bankruptcy Court ]
In re Monticello Realty Invs. LLC
Mar
06
2015
Ruling
Ballots of bank that acted in good faith in opposing plan confirmation could not be disqualified from tabulation.
Issue(s)
Could ballots of creditor bank be discounted from final tally in confirmation vote due to alleged bad faith in opposing confirmation?
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Court
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In re LichtinWade LLC
Dec
17
2012
Ruling
Creditor's vote against debtor's plan could not be disallowed absent evidence of alleged bad faith.
Procedural posture
Debtor LLC filed a petition under chapter 11 of the Bankruptcy Code and operated its business renting commercial real estate as a debtor-in-possession. A secured creditor filed an objection to a chapter 11 bankruptcy plan the debtor proposed, and the debtor filed a motion which asked the court to disallow all votes the creditor cast against the debtor's plan, pursuant to 11 U.S.C.S. § 1126(e). The court held a hearing on the debtor's motion.
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Court
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In re Charles St. African Methodist Episcopal Church of Boston
Sep
11
2012
Ruling
Motion to designate votes by secured creditor against plan and disregard objections denied.
Procedural posture
A chapter 11 debtor filed a motion under 11 U.S.C.S. § 1126(e) to designate the votes cast by a secured creditor against the debtor's plan of reorganization and, by virtue of the designation, to disregard the objections to confirmation of the plan.
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Court
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In re BataaKierland LLC
Sep
04
2012
Ruling
Motion to designate impaired creditor's acceptance of plan for bad faith denied.
Procedural posture
Movant secured creditor, a lender, sought to "designate," that is, to disqualify another secured creditor's acceptance of the plan of reorganization, pursuant to 11 U.S.C.S. § 1126(e), alleging that the acceptance was not made in good faith. Debtor owned a single real estate asset. The creditor's apparent motive in approving the plan under 11 U.S.C.S. § 1129(a)(10), was to see the debtor succeed in its reorganization.
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Court
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In re DBSD N. Am. Inc.
Dec
21
2009
Ruling
Votes of creditor that purchased debtor's first lien debt in order to acquire primary asset designated and disqualified.
Procedural posture
The debtors, a development-stage enterprise formed to develop an integrated mobile satellite and terrestrial services network, moved, pursuant to 11 U.S.C.S. § 1126(e), to designate and disqualify the votes of a competing creditor, which had just purchased and was the sole holder of debt in the first lien debt class. The creditor's votes rejected the debtors' reorganization plan before the court for confirmation.
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Court
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In re Adelphia Communs. Corp.
Dec
11
2006
Ruling
Court refused to designate creditors'votes for confirmation on grounds of bad faith absent highly egregious conduct.
Procedural posture
The bondholders filed a motion to designate, for bad faith, the votes in the class of senior notes of the three targeted creditors that voted to support the chapter 11 plan for confirmation. The targeted creditors and creditors committee opposed the motion on the ground that there was no basis for disqualifying the votes.
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Court
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