Title

Jurisdiction

Decided date

Filing type

11 U.S.C.
- § 506
- § 506(c)

In re Sak Dev. Inc.

Feb

2008

Ruling

Construction company was entitled to reimbursement for expenses incurred in preservation of property of the estate.

Procedural posture

A construction company (movant) requested an order per 11 U.S.C.S. § 506(c) requiring a bank with a security interest in certain real estate in which debtor also had an interest to reimburse movant for expenses that it claimed to have incurred to preserve the value of the real estate. Specifically, movant sought more than $150,000 on account of said expenses. The bank objected to any reimbursement and, inter alia, challenged movant's standing.

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Court :

Eastern District of North Carolina ( Judge Leonard ) [ Bankruptcy Court ]

Commercial opinion summary, case decided on February 29, 2008 , LexisNexis #0408-078

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11 U.S.C.
- § 506
- § 506(c)

In re Turner-Dunn Homes Inc.

Nov

2007

Ruling

Trustee allowed 3% surcharge for services in selling debtor's property for $29 million.

Procedural posture

Debtor corporation filed a petition under chapter 11, and a trustee was appointed to represent the bankruptcy estate. The trustee sold property belonging to the debtor for $29 million, and he filed a motion seeking the court's permission to collect a surcharge in the amount of $895,000 against secured creditors, pursuant to 11 U.S.C. § 506(c). The creditors filed objections to the trustee's motion.

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Court :

District of Arizona ( Judge Marlar ) [ Bankruptcy Court ]

Commercial opinion summary, case decided on November 01, 2007 , LexisNexis #1207-042

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11 U.S.C.
- § 506
- § 506(c)

In re Milligan

Feb

2007

Ruling

Trustee was entitled to surcharge against creditor's interest in debtor's insurance proceeds as creditor had not requested timely relief from bankruptcy court.

Procedural posture

Bankruptcy debtors'vehicle was involved in an accident and deemed a total loss by the debtors'insurer, and the bankruptcy trustee received the insurance proceeds. A creditor allegedly secured by the vehicle requested the proceeds from the trustee, but the creditor did not request relief from the court, and the trustee moved for a determination of secured status and for a surcharge for administration under 11 U.S.C. § 506(c).

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Court :

Southern District of Alabama ( Judge Mahoney ) [ Bankruptcy Court ]

opinion summary, case decided on February 09, 2007 , LexisNexis #0307-134

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11 U.S.C.
- § 506
- § 506(c)

Ungaretti & Harris LLP v. Steinberg (In re Resource Tech. Corp.)

Dec

2006

Ruling

Former chapter 11 trustee's counsel was not entitled to surcharge for services provided to perserve collateral prior to conversion to chapter 7.

Procedural posture

After conversion of a debtor's bankruptcy case from chapter 11 to chapter 7, plaintiff counsel to the former chapter 11 trustee, brought an adversary proceeding against defendant chapter 7 trustee in the converted case, claiming entitlement to payment for counsel's services from funds obtained in a prior settlement. The trustee moved for approval of a settlement which would provide a cash payment to counsel.

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Court :

Northern District of Illinois ( Judge Wedoff ) [ Bankruptcy Court ]

opinion summary, case decided on December 04, 2006 , LexisNexis #0107-012

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11 U.S.C.
- § 506
- § 506(c)

In re Skuna River Lumber LLC

Sep

2006

Ruling

Compensation of auction service provider approved.

Procedural posture

Before the court was an application for compensation filed by a company related to services rendered in conducting an auction sale of certain assets owned by the debtor. Several creditors filed objections.

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Court :

Northern District of Mississippi ( Judge Houston ) [ Bankruptcy Court ]

opinion summary, case decided on September 22, 2006 , LexisNexis #1206-003

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11 U.S.C.
- § 506
- § 506(c)

In re Hughes

Mar

2006

Ruling

Trustee was denied motion to impose fee on creditor mortgagee for sale of property since trustee's efforts did not bestow benefit on creditor.

Procedural posture

The chapter 7 trustee filed a motion for approval of the sale of certain real property, free and clear of any liens, encumbrances or mortgages against the property, and also sought to impose against the proceeds of sale, his fees and expenses, as well as the fees and expenses of his attorney and his real estate broker.

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Court :

Southern District of Florida ( Judge Friedman ) [ Bankruptcy Court ]

opinion summary, case decided on March 31, 2006 , LexisNexis #0706-016

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