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Atrium View LLC v. Eastern Savings Bank (In re Atrium View LLC)

Objectants, a Chapter 7 debtor and a third lienholder, asserted that a prepayment premium asserted by respondent first lienholder against the proceeds of an auction sale of certain real estate was unreasonable and should be disallowed pursuant to 11 U.S.C.S. § 506(b).
Ruling: 
Prepayment premium claimed by first lienholder against proceeds of auction disallowed as unreasonable.
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Commercial case opionion summary, case decided on December 24,2008, LexisNexis #0209-008

In re Nutritional Sourcing Corp.

Debtors, a parent and two subsidiary corporations, and the Official Committee of Unsecured Creditors supported the confirmation of the debtors' joint chapter 11 plan of liquidation. A number of parties filed objections to the plan.
Ruling: 
Confirmation denied due to definition of "trade creditors" differing from that in mirror loan notes issued in prior reorganization.
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Commercial case opionion summary, case decided on December 23,2008, LexisNexis #0209-053

Miller v. Barenberg (In re Bernard Techs. Inc.)

In an adversary proceeding, plaintiff trustee sought to avoid and recover pre-petition transfers from (collectively) defendant corporation. The trustee asked the federal district court to avoid payments to the corporation pursuant to 11 U.S.C.S. §§ 547, 548, 544(b), and 551, and to disallow the claims that the corporation filed against the debtor pursuant to 11 U.S.C.S. § 502(d).
Ruling: 
Transfers by debtor's non-debtor subsidiary were not avoidable.
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Commercial case opionion summary, case decided on December 05,2008, LexisNexis #0109-103

In re Buscovs Inc.

Debtors proposed a sale of substantially all of their assets, to include an assignment of a private label credit card program agreement between the debtors and a bank. The bank objected to the sale on the ground that 11 U.S.C.S. § 365(c)(2) prohibited the assignment of the executory contract to extend debt financing or financial accommodations to or for the benefit of the debtors.
Ruling: 
Bank's objection to sale of substantially all assets, including private credit card program, overruled.
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Commercial case opionion summary, case decided on November 21,2008, LexisNexis #0109-007

Delrey Windows Inc. v. Mars Builders Inc. (In re Mars Builders Inc.)

Plaintiff creditor asked the court to declare that it had standing, in connection with an adversary complaint against defendant partnership, to prosecute a fraudulent conveyance claim allegedly abandoned by the trustee per 11 U.S.C.S. § 554. Rulings as to discovery matters relating to underlying issues were also sought as were rulings on the effect of such ruling on the court's subject matter jurisdiction given Fed. R. Civ. P. 12(h)(3).
Ruling: 
Mere failure of trustee to prosecute action on behalf of estate did not constitute abandonment.
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Commercial case opionion summary, case decided on November 18,2008, LexisNexis #0109-017

In re American Home Mortg. Holdings Inc.

A professional retained by chapter 11 debtors under 11 U.S.C.S. § 327(a) sought reimbursement of certain expenses incurred by third-party vendors pursuant to 11 U.S.C.S. § 330(a)(1)(B).
Ruling: 
Postpetition fees of professional who performed foreclosure services for debtor mortgage originator were reimbursable.
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Commercial case opionion summary, case decided on October 31,2008, LexisNexis #1208-074

In re Distributed Energy Sys. Corp.

The debtors filed for relief under chapter 11 of the Bankruptcy Code, and in July 2008, the court approved the sale of the assets of one debtor to a purchaser. The debtors filed a motion for authority to assume and assign a memorandum of understanding (MOU) between the debtor and a company and a confidentiality agreement between the debtor and another company, pursuant to 11 U.S.C.S. § 365.
Ruling: 
Debtor's motion to assume and assign memo of understanding and confidentiality agreement with creditor granted.
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Commercial case opionion summary, case decided on October 17,2008, LexisNexis #1108-080

Henderson v. Powermate Holding Corp. (In re Powermate Holding Corp.)

Plaintiff former employee filed a putative class action against defendant chapter 11 debtors, alleging that they violated employees' rights under the Worker Adjustment and Retraining Notification Act (WARN Act), 29 U.S.C.S. § 2101 et seq. The employee claimed that any damages employees recovered were entitled to administrative expense status under 11 U.S.C.S. § 503(b)(1)(A)(ii). The debtors opposed the employee's claim.
Ruling: 
Claims under Worker Adjustment and Retraining Notification Act were not entitled to administrative expense priority status.
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Commercial case opionion summary, case decided on October 10,2008, LexisNexis #1108-041

Winnecour v. Countrywide Home Loans Inc. (in re Countrywide Home Loans Inc.)

Chapter 13 trustee filed motions in 293 chapter 13 cases, seeking an order compelling respondent home loan corporation to provide loan histories and for sanctions. The court consolidated the motions and referred the matter to mediation. The parties agreed to settle the trustee's claims, and they filed a joint motion which asked the court to approve a proposed settlement agreement and general release of claims.
Ruling: 
Settlement of trustee's claim regarding improperly posted mortgage payments in 293 chapter 13 cases approved.
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Commercial case opionion summary, case decided on October 08,2008, LexisNexis #1108-022

In re Federal-Mogul Global Inc.

Debtor corporations filed petitions under chapter 11, and they sought approval of a joint plan of reorganization that contained two plans (the Plan A Settlement and the Plan B Settlement) for settling asbestos-related claims. Creditors, businesses that filed claims against the debtors, asked the court to approve the Plan A Settlement, and various insurance companies and other entities filed objections.
Ruling: 
Asbestos settlement denied where creditors did not qualify for required 524(g) injunction by virtue of their own conduct.
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Commercial case opionion summary, case decided on September 30,2008, LexisNexis #0209-101

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