Sheppard v. Wells Fargo Fin. Leasing Inc. (In re Sheppard)
Jul
12
2006
Ruling
Motion to dismiss by debtor in state court action against creditor with no counterclaim did not violate stay.
Procedural posture
Debtor had filed a state court action against creditor. In that action, the creditor answered but did not file a counterclaim. It moved to dismiss that lawsuit with prejudice. When it became apparent that the creditor intended to go forward on its motion to dismiss, the debtor filed the instant emergency motion to stay the state court action. The state court nevertheless went ahead with the hearing and granted the motion to dismiss.
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Court
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In re Reese
Jul
11
2006
Ruling
Debtor's motion to accept executory contracts for sale of properties free of liens and over wife's objections since sales were fair and reasonable and in best interests of estate and creditors.
Procedural posture
Movant debtor filed a motion for authority to accept executory contracts for the sale of real and personal property and to sell real and personal property free and clear of liens pursuant to 11 U.S.C. § 363(b), a motion to approve an agreed order for the use of cash collateral, and a motion for authority to obtain secured credit under 11. U.S.C. § 364(b)(1). Respondent wife objected to the first two motions.
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Court
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In re Brooklyn Hosp. Ctr.
May
04
2006
Ruling
Motion to authorize implementation of a key employee retention plan ("KERP") was granted since the consideration received in exchange for the KERP payments served an important corporate interest.
Procedural posture
Chapter 11 debtor, a hospital and its affiliates, moved for an order, pursuant to 11 U.S.C. §§ 105(a) and 363(b), approving and authorizing the implementation of a key employee retention plan ("KERP") for the purpose of retaining key employees of the debtor. Two parties, the state nurses'association and the trustee, objected to the approval of the KERP.
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Court
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In re HHG Corp.
May
02
2006
Ruling
Motion to set aside sale order was denied since opportunity to object to order was waived and, thus, order had res judicata effect.
Procedural posture
The bankruptcy court had previously approved a sale of the debtor's assets which included a library of video footage of a professional wrestling event. More than two years after entry of the sale order, movants alleged that they had an interest in the library of video footage and filed a motion to set aside the sale order.
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Court
:
In re Dunlap
Apr
28
2006
Ruling
Creditor's objection to trustee's proposed sale of vehicle was overruled since trustee properly noticed sale and creditor did not have valid security interest.
Procedural posture
A chapter 7 matter came before the court on the Notice of Trustee's Intent to Sell Property of the Estate to the Debtor, and the Notice of Objection filed by a creditor.
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Court
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Hower v. Molding Sys. Engg Corp.
Apr
19
2006
Ruling
Creditor was denied motion to stay sale of debtor's assets since the sale had already occurred and creditor had not obtained a stay of the sale prior to the sale.
Procedural posture
Appellant creditor appealed from the District Court for the Southern District of Illinois which denied his motion to stay the sale of appellee debtor's assets in a bankruptcy proceeding because the sale had already taken place.
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Hazelbaker v. Hope Gas Inc. (In re Rare Earth Minerals)
Apr
18
2006
Ruling
Court affirmed dismissal of creditor's appeal since section 363(m) curtails appellate courts'power to undo the authorized sale of estate assets to a good faith purchaser unless the sale has been stayed pending appeal, and creditor failed to obtain such a
Procedural posture
Appellant creditor appealed from the District Court for the Northern District of West Virginia challenging the bankruptcy court's authorization of the assumption and sale of an oil and gas lease.
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In re Claywell
Apr
05
2006
Ruling
Court held that trustee could not sell debtor's real property at private sale under section 363 until issues regarding the property's ownership were resolved.
Procedural posture
Petitioner trustee filed a notice of intent to sell a debtor's real property at private sale, pursuant to 11 U.S.C. § 363. Respondent adjacent landowner objected to the notice.
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Court
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In re Southwest Fla. Heart Group P.A.
Feb
07
2006
Ruling
Motion to assume lease was denied since creditor had ownership interest and trustee could not sell property free and clear of that interest.
Procedural posture
In a chapter 11 case, before the court was trustee's motion to assume lease agreement and lease agreement addendum involving an unexpired non-residential lease entered into by debtor and creditor.
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Court
:
- 11 U.S.C.
In re FLYi Inc.
Feb
01
2006
Ruling
Court granted the debtor's motion to approve the sale of certain assets and assign a lease to the purchaser since the sale was in the best interests of all.
Procedural posture
The debtors filed a motion for the court to approve the sale of a portion of the debtors' assets, located at an airport, to the purchaser. The sale included the transfer of a use agreement and premises lease at the airport and related equipment. The court issued findings of fact and conclusions of law on the sale motion.
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Court
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