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3rd circuit

Shubert v. Lucent Techs. Inc. (In re Winstar Communs. Inc.)

Dec
21
2005
Ruling
Trustee was able to avoid transfers as preferential and was granted equitable subordination of the creditor's claim since the creditor as the debtor's lender had coerced the debtor into purchasing unneeded products.
Procedural posture

Plaintiff, a chapter 7 trustee substituted for a debtor, asserted against defendant creditor claims for, inter alia, breach of contract, preferential transfer avoidable under 11 U.S.C. § 547, equitable subordination. The creditor filed counterclaims for, inter alia, fraud and misrepresentation. Those claims were tried to the court.

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opinion summary, case decided on December 21, 2005 , LexisNexis #0306-026
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Official Comm. of Unsecured Creditors of J. Allan Steel Co. v. Nucor-Yamato Steel Co. (In re J. Allen Steel Co.)

Dec
12
2005
Ruling
Case was remanded for clarification of whether alleged preferential payments were made in the ordinary course of business or made pursuant to ordinary business terms and thus not preferential.
Procedural posture

Appellee, a committee of unsecured creditors, filed an adversary proceeding against appellant steel supplier seeking to recover payments that a Chapter 11 debtor had made during the 90-day period before the bankruptcy petition was filed. The supplier appealed after the bankruptcy court granted partial summary judgment to it and thereafter entered a judgment in the committee's favor.

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opinion summary, case decided on December 12, 2005 , LexisNexis #0106-020
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Verdini v. Poirier (In re Verdini)

Dec
02
2005
Ruling
Marital debts were deemed dischargeable since the alimony was actually compensation for unequal distribution of corporate assets.
Procedural posture

Plaintiff bankruptcy debtor brought an adversary proceeding against defendant, the debtor's former spouse, alleging that debts to the spouse arising from the parties'settlement agreement in their divorce proceedings were dischargeable. The spouse contended that the debts were nondischargeable under 11 U.S.C. § 523(a)(5) and (15) as alimony and as marital debts which the debtor was able to pay.

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opinion summary, case decided on December 02, 2005 , LexisNexis #0506-126
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Klayman v. United States (In re Klayman)

Oct
21
2005
Ruling
Old tax liability was deemed nondischargeable since the government established debtor had willfully attempted to evade tax payments.
Procedural posture

Plaintiff debtor filed suit against defendant United States for a declaratory judgment pursuant to 28 U.S.C. § 2201(a) that certain tax liability was dischargeable. The debtor proposed to deal with that claim in the instant Chapter 11 case. The government opposed the complaint and moved for summary judgment.

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opinion summary, case decided on October 21, 2005 , LexisNexis #0106-014
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In re eToys Inc.

Oct
04
2005
Ruling
Fees for debtor's counsel were disgorged for failing to disclose conflict of interest as to counsel's representation of two parties involved in the bankruptcy.
Procedural posture

The debtors filed voluntary chapter 11 petitions for relief. The shareholder and the corporation filed post-confirmation motions for removal, disgorgement of fees, and sanctions for retained professionals contravening the disclosure requirements of Fed. R. Bankr. P. 2014, the conflict of interest prohibitions of 11 U.S.C. § 327(a). The trustee and a committee filed motions for approval of settlements.

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opinion summary, case decided on October 04, 2005 , LexisNexis #0206-004
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Spyra v. Finney (In re Finney)

Sep
30
2005
Ruling
Debtor was denied discharge where a debtor concealed assets by conducting an authorized auction pursuant to a contract signed by the debtor's girlfriend.
Procedural posture

Plaintiff, a proposed purchaser of real property from defendant bankruptcy debtor, brought an adversary proceeding against the debtor objecting to the debtor's discharge under 11 U.S.C. § 727(a)(2)(B) and (4)(A). The purchaser alleged that the debtor concealed assets by conducting an unauthorized auction of personalty and that the debtor made a false oath in filing an answer concerning the auction. The bankruptcy court conducted a trial.

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opinion summary, case decided on September 30, 2005 , LexisNexis #0106-062
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