- 11 U.S.C.
Stathopoulos v. Maritime Law Ctr. for Personal Injury (In re Arana)
Mar
20
2008
Ruling
Debtor's personal injury attorneys were not insiders so that reimbursement of advances was not preferential transfer.
Procedural posture
Defendants, a law center and a particular member thereof, sought summary judgment on plaintiff trustee's complaint to avoid and recover a transfer per 11 U.S.C.S. § 547 claimed to be preferential and occurring by reason of the transfer, to defendants, of a part of the proceeds of a settlement of a chapter 7 debtor's lawsuit against third parties, reimbursing defendants for advances, including for debtor's living expenses, made during the case.
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Court
:
- FRBP
In re Cantico Intl Ltd.
Mar
19
2008
Ruling
Sanctions imposed against putative owner of property for filing involuntary chapter 11 case to delay foreclosure without justification.
Procedural posture
A trustee filed a motion for monetary sanctions, pursuant to Fed. R. Bankr. P. 9011, against a putative owner and his attorney in an involuntary chapter 11 case.
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Court
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In re Schick
Mar
19
2008
Ruling
Court refused to reopen case to administer undisclosed asset due to debtor's failure to file schedules while case was open.
Procedural posture
The individual debtor in this involuntary chapter 11 case moved to reopen it and compel his former trustee to administer a heretofore undisclosed asset, or else, abandon it.
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Court
:
- 11 U.S.C.
In re F.G. Metals Inc.
Mar
18
2008
Ruling
Amended plan confirmed provided that debtor was not entitled to discharge of any tax for which a fraudulent return had been filed.
Procedural posture
Debtor corporations filed voluntary petitions for relief under chapter 11 of the Bankruptcy Code. The court consolidated the petitions and entered an order which provided, inter alia, that the corporations would be consolidated into one entity. The surviving debtor filed an amended plan of reorganization, and the court held a hearing to consider confirmation of the amended plan, pursuant to 11 U.S.C.S. § 1129.
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Court
:
In re Northwest Airlines Corp.
Feb
29
2008
Ruling
Financial advisors to committee of unsecured creditors were not entitled to success/completion fees.
Procedural posture
Financial advisors which were properly retained by a committee of unsecured creditors in a bankruptcy case were awarded fees and costs in accordance with their previously approved retention agreements. The advisors requested additional success or completion fees based on the successful reorganization of bankruptcy debtors.
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Court
:
In re Quigley
Feb
26
2008
Ruling
Personal injury claimants' inability to satisfy state's proof requirements did not affect right to vote on chapter 11 plan.
Procedural posture
A bankruptcy debtor submitted a proposed ballot to solicit votes on the debtor's reorganization plan from individuals who held asbestos personal injury claims. An ad hoc committee of asbestos victims objected to the ballot on the ground that it did not seek to identify individuals whose causes of action were unenforceable under state tort reform laws.
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Court
:
In re McCormick
Feb
08
2008
Ruling
Court refused to extend stay to debtor's non-debtor LLC.
Procedural posture
Debtor filed a petition under chapter 13 of the Bankruptcy Code and an application requesting that the automatic stay under 11 U.S.C.S. § 362(a) be extended to a limited liability company (LLC) he owned. Two people who identified themselves as judgment creditors, and a third person who claimed she was a creditor, opposed the application.
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Court
:
Hogil Pharm. Corp. v. Sapir (In re Innomed Labs LLC)
Jan
29
2008
Ruling
Law firm that previously represented co-owner of debtor LLC could represent trustee where co-owner did not hold adverse interest to estate.
Procedural posture
Appellants, a pharmaceutical corporation and one of its co-owners, challenged an order of the U.S. Bankruptcy Court authorizing appellee, a chapter 7 trustee of a debtor, to retain special legal counsel to investigate and possibly litigate claims by the debtor against appellants. Appellants argued that the law firm appointed as counsel to the trustee held interests adverse to the estate and was not disinterested.
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Court
:
- FRBP
In re Calpine Corp.
Jan
24
2008
Ruling
Stay pending appeal of confirmation order by holders of 5% of debtors' stock who did not participate in confirmation process denied.
Procedural posture
The debtors, a group of related companies, filed for bankruptcy relief under chapter 11 of the United States Bankruptcy Code. The debtors submitted a proposed plan, discovery ensued, and a plan was confirmed. The objecting shareholders filed a motion for a limited stay pending appeal of the confirmation order and plan modification order.
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Court
:
- 11 U.S.C.
In re Delta Air Lines
Jan
16
2008
Ruling
Debtor's objections to claims of owner participants overruled.
Procedural posture
Debtor airline, a chapter 11 debtor, objected to claims filed by "owner participants" (OPs) that were based on tax indemnification agreements (TIAs) and claims filed by indenture trustees under stipulated loss value (SLVs) contracts relating to leases associated with structured aircraft financing agreements. At issue, inter alia, was the status of such claims under 11 U.S.C. § 502.
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Court
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