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In re Kohl

A chapter 7 trustee moved for an order authorizing him to make a distribution from the proceeds of sale of the debtor's two apartments. Also before the court were fee applications for various professionals and for the trustee for his interim statutory commissions. One of the creditors objected to the motions.
Ruling: 
Trustee's application for distribution of proceeds of sale of debtor's co-op apartments and for fees and commissions approved.
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Consumer case opionion summary, case decided on December 21,2009, LexisNexis #0110-047

Amusement Indus. v. Citigroup Global Markets Realty Corp. (In re First Republic Group Realty LLC)

Plaintiff California corporations filed an adversary proceeding against defendants, a chapter 11 corporate debtor and a realty corporation, claiming that the debtor misappropriated $ 13 million which one of the corporations placed in an escrow account to fund a transaction it was negotiating with the debtor. Plaintiffs filed a motion for a preliminary injunction that barred the debtor from using funds that were traceable to the deposit.
Ruling: 
Preliminary injunction barring debtor from using funds from misappropriated escrow denied.
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Commercial case opionion summary, case decided on December 15,2009, LexisNexis #0110-001

In re Ransome Group Investors I LP

A petitioning creditor filed an involuntary bankruptcy petition against the alleged debtor. The debtor filed a motion to dismiss the involuntary petition on the grounds that the petition was filed in bad faith and that the creditor's claim was subject to a bona fide dispute within the meaning of 11 U.S.C.S. § 303(b). The debtor asked the court to require the creditor to post an indemnity bond pursuant to § 303(e) pending resolution of the issues.
Ruling: 
Petitioning creditor in involuntary case not required to post bond pending resolution of bad faith issue absent cause.
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Commercial case opionion summary, case decided on December 14,2009, LexisNexis #0410-072

In re Metaldyne Corp.

Debtors moved pursuant to 11 U.S.C.S. § 363(b)(1) and (k) to approve the sale of substantially all of their assets to a consortium representing approximately 97 percent of the debtors' prepetition term lenders' secured debt. An owner of approximately $ 3.5 million of the over $ 425 million of the debtors' prepetition secured term debt filed an objection to the sale.
Ruling: 
Motion for sale of substantially all assets to consortium representing 97% of prepetition secured debt granted.
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Commercial case opionion summary, case decided on August 12,2009, LexisNexis #0909-003

In re Metaldyne Corp.

Two motions relating to the proposed sale, at a public auction pursuant to 11 U.S.C.S. § 363, of certain assets belonging to debtors-in-possession (DIPs) were filed. At issue was which of the two bidders was properly treated as the stalking horse bidder which would enjoy bidder protection. Motion 1 asked the court to construe particular documents and Motion 2 sought approval of bid procedures.
Ruling: 
Original stalking horse bidder not entitled to protection after failure to comply with terms of asset purchase agreement.
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Commercial case opionion summary, case decided on July 28,2009, LexisNexis #0809-114

Motors Liquidation Co., In re

Ruling: 
Crossclaim dismissed because trustee is no longer a party to the action and thus bankruptcycourt lacks subject matter jurisdiction over the crossclaim. (Bankr. S.D.N.Y.)
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Commercial case opionion summary, case decided on July 10,2009, LexisNexis #0817-085

In re Sneijder

The debtor moved to expunge a secured creditor's proof of claim, where the debtor proposed to surrender the collateral real property in full satisfaction of the loan under her plan proposed under 11 U.S.C.S. § 1325(a)(5)(C). A proposed foreclosure sale for the property to be surrendered was not scheduled for another 90 days.
Ruling: 
Debtor's surrender of real property in satisfaction of debt was subject to creditor's potential deficiency claim.
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Consumer case opionion summary, case decided on July 02,2009, LexisNexis #0809-024

In re Atlas Shipping AS

Petitioner foreign representative filed an action under chapter 15 of the Bankruptcy Code, seeking recognition of a bankruptcy action that was filed by debtors, two Danish corporations, in Denmark. The foreign representative asked the court to vacate nine maritime attachments which creditors had obtained, pursuant to Supp. R. Adm. or Mar. Cl. & Asset Forfeiture Actions B, in the District Court for the Southern District of New York.
Ruling: 
Maritime attachments obtained against foreign debtor could be vacated and garnished funds turned over to foreign representative.
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Commercial case opionion summary, case decided on April 27,2009, LexisNexis #0609-024

In re Giggsby

Debtor filed a petition under chapter 13 of the Bankruptcy Code, and a landlord filed a motion to vacate the stay that was imposed when the debtor declared bankruptcy so it could execute a warrant of eviction it obtained in state court. The court granted the landlord's motion and sustained the landlord's objection to a certification the debtor filed under 11 U.S.C.S. § 362(l)(1). The debtor filed an application for an order reinstating the stay.
Ruling: 
Court refused to reinstate stay in case filed solely to thwart eviction.
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Consumer case opionion summary, case decided on April 17,2009, LexisNexis #0609-005

In re Stansbury

The debtors filed for relief under chapter 13 of the Bankruptcy Code and a bank filed a claim in the bankruptcy proceedings. The debtors filed an objection to the claim.
Ruling: 
Post-confirmation unsecured claim filed by bank against property surrendered by debtor disallowed.
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Consumer case opionion summary, case decided on March 09,2009, LexisNexis #0609-128

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