In re Gacharna
Oct
19
2012
Ruling
Plan could not be modified to substitute payment for injunctive relief on claim based on settlement of trade secret action.
Procedural posture
Creditors objected to the modified plan filed by chapter 13 debtors.
ABI Membership is required to access the full summary of In re Gacharna Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
:
- 11 U.S.C.
4100 W. Grand LLC v. TY Grand LLC (In re 4100 Grand LLC)
Oct
04
2012
Ruling
Recording of deed in lieu of foreclosure was not a fraudulent transfer.
Procedural posture
Chapter 11 debtor-in-possession filed a complaint against creditor to avoid and recover a transfer alleged to be fraudulent pursuant to 11 U.S.C.S. §§ 544(b) and 548(a)(1)(B) and 740 ILCS 160/5 and 160/6.
ABI Membership is required to access the full summary of 4100 W. Grand LLC v. TY Grand LLC (In re 4100 Grand LLC) Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
:
- 11 U.S.C.
Solis v. Dombek (In re Dombek)
Oct
04
2012
Ruling
Debt owed to ERISA plan was nondischargeable due to debtor's fiduciary defalcation.
Procedural posture
Secretary of the U.S. Department of Labor brought an adversary proceeding against defendant bankruptcy debtor seeking a determination that a debt to an employee benefit plan governed by the Employee Retirement Income Security Act of 1974 (ERISA) was nondischargeable under 11 U.S.C.S. § 523(a)(4) based on the debtor's fiduciary defalcation. The debtor did not respond, default was entered, and the Secretary moved for default judgment.
ABI Membership is required to access the full summary of Solis v. Dombek (In re Dombek) Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
:
Lemaire v. Fannie Mae (In re Lemaire)
Aug
24
2012
Ruling
Stay properly lifted where foreclosure sales had occurred and debtor could no longer cure default.
Procedural posture
Appellant chapter 13 debtor challenged orders of the United States Bankruptcy Court for the Eastern District of Michigan, which granted appellee relief from the automatic stay with respect to two residential properties previously owned by the debtor and transferred to appellee after foreclosure sales.
ABI Membership is required to access the full summary of Lemaire v. Fannie Mae (In re Lemaire) Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
:
- 11 U.S.C.
Peterson v. Ritchie Capital Mgmt. LLC (In re Lancelot Investors Fund L.P.)
Mar
02
2012
Ruling
Transfers made by management companies rather than debtor entities were not avoidable.
Procedural posture
Defendants filed a motion to dismiss chapter 7 trustee's complaint, which sought to avoid $12,532,973 in alleged constructively fraudulent transfers under 11 U.S.C.S. § 548 and the Uniform Illinois Fraudulent Transfer Act, and asserted a state law claim for unjust enrichment.
ABI Membership is required to access the full summary of Peterson v. Ritchie Capital Mgmt. LLC (In re Lancelot Investors Fund L.P.) Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
:
Peterson v. Enhanced Investing Corp. (Cayman) Ltd. (In re Lancelot Investors Fund L.P.)
Mar
02
2012
Ruling
Transfers pursuant to massive Ponzi scheme could be avoided as fraudulent.
Procedural posture
Plaintiff chapter 7 trustee brought eleven adversary complaints against defendants, transferees of funds from the debtors under a massive Ponzi scheme run by insiders of the debtor. The transferees moved for summary judgment under Fed. R. Civ. P. 56. The issue was whether the transactions tainted by massive fraud were the kind of business transactions Congress intended to protect under 11 U.S.C.S. § 546(e).
ABI Membership is required to access the full summary of Peterson v. Enhanced Investing Corp. (Cayman) Ltd. (In re Lancelot Investors Fund L.P.) Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
:
Herzog v. Petty (In re Petty)
Oct
06
2011
Ruling
Discharge denied due to failure to list interest in or income from LLC.
Procedural posture
Trustee filed an adversary proceeding against chapter 7 debtor, seeking a determination that the debtor was not eligible under 11 U.S.C.S. § 727(a)(2), (a)(4), and (a)(5) to have his debts discharged. Although the debtor testified at three meetings of creditors that were held pursuant to 11 U.S.C.S. § 341, he failed to answer the trustee's complaint.
ABI Membership is required to access the full summary of Herzog v. Petty (In re Petty) Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
:
Estate of Gray v. McDermott (In re Estate of Gray)
Sep
06
2011
Ruling
Case properly dismissed because probate estate was not an eligible debtor.
Procedural posture
Chapter 11 debtor, the estate of a decedent, challenged a decision of the U.S. Bankruptcy Court for the Eastern District of Michigan, which dismissed the debtor's chapter 11 case nunc pro tunc.
ABI Membership is required to access the full summary of Estate of Gray v. McDermott (In re Estate of Gray) Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
:
- 11 U.S.C.
Jan S. Weinstein & Assocs. v. Lymberopoulos (In re Lymberopoulos)
Jul
13
2011
Ruling
Attorneys' fees assessed against debtor in protective order proceeding were nondischargeable.
Procedural posture
Plaintiff creditor, a law firm, filed a complaint against defendant Chapter 7 debtor to determine the dischargeability of a debt owed to the law firm pursuant to 11 U.S.C.S. § 523(a)(6).
ABI Membership is required to access the full summary of Jan S. Weinstein & Assocs. v. Lymberopoulos (In re Lymberopoulos) Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
:
- FRBP
In re Dental Profile Inc.
Mar
31
2011
Ruling
Debtor and principal sanctioned for filing case to frustrate lender and delaying collection of judgment.
Procedural posture
After the bankruptcy petitions of corporate debtors were dismissed, a creditor moved for sanctions pursuant to Fed. R. Bankr. P. 9011 against the debtors, the sole principal of the debtors, and the debtors' counsel asserting that the bankruptcy petitions were filed for the improper purpose of frustrating, hindering, and delaying the creditor's collection of a judgment against the debtors.
ABI Membership is required to access the full summary of In re Dental Profile Inc. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
: