Search Opinion

In re Ridgemour Meyer Props. LLC

A bankruptcy debtor and its joint venturer disputed whether to continue their venture to erect a high-rise building on property contributed by the debtor, and an arbitrator determined that the debtor would control the property pending dissolution of the joint venture and a determination of the parties'rights and obligations. The debtor then filed its bankruptcy petition, and the joint venturer moved for appointment of a trustee.
Ruling: 
Chapter 11 trustee appointed for cause due to debtor's concealment of property transfer.
ABI Membership is required to access the full summary of In re Ridgemour Meyer Props. LLC. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Commercial case opionion summary, case decided on November 12,2008, LexisNexis #0209-124

In re Texas Std. Oil Corp.

Debtor, an oil company, filed a petition under chapter 11 of the Bankruptcy Code, and asked the court for permission to assign its interests in an oil and gas lease to a partnership (LP). The debtor's creditors filed an objection to the debtor's motion.
Ruling: 
Debtor could not assign interest in oil and gas lease for no consideration.
ABI Membership is required to access the full summary of In re Texas Std. Oil Corp.. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Commercial case opionion summary, case decided on November 12,2008, LexisNexis #0209-109

In re Sarahs Tent LLC

The court entered an order authorizing the sale of substantially all of the debtor's assets free and clear of liens, claims, and encumbrances, the assumption and assignment of the debtor's principal leasehold, and related relief.
Ruling: 
Sale of debtor's assets free and clear approved.
ABI Membership is required to access the full summary of In re Sarahs Tent LLC. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Commercial case opionion summary, case decided on November 07,2008, LexisNexis #1208-071

In re High Voltage Engg Corp.

The liquidating supervisor for chapter 11 debtors filed a motion pursuant to 11 U.S.C.S. § 554 for an order authorizing the abandonment to the New Jersey Department of Environmental Protection of the debtors'contingent interest in certain funds held in trust, and a motion pursuant to Fed. R. Bankr. P. 9019 for authority to cause the debtors to enter into a settlement agreement with two individuals and the State of New Jersey.
Ruling: 
Funds, in which debtor had contingent interest, held in trust for remediation of contaminated property could be paid to state environmental agency as part of settlement rather than abandoned.
ABI Membership is required to access the full summary of In re High Voltage Engg Corp.. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Commercial case opionion summary, case decided on November 07,2008, LexisNexis #1208-099

In re Tusa-Expo Holdings Inc.

After filing for bankruptcy relief under chapter 11, the debtors moved for an order authorizing them to pay pre-petition wages, compensation, and employee benefits. The court considered the motion at a hearing. No objection to the motion was lodged.
Ruling: 
Debtors authorized to pay priority claims for prepetition wages, compensation and employee benefits.
ABI Membership is required to access the full summary of In re Tusa-Expo Holdings Inc.. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Commercial case opionion summary, case decided on November 07,2008, LexisNexis #1208-041

Advantage One Mortg. Corp. v. SCP-Capri MG Owner LLC (In re Advantage One Mortg. Corp.)

Debtor filed an action against defendant creditor seeking the release of garnished funds claiming the service of a writ of garnishment created a judicial lien subject to avoidance pursuant to 11 U.S.C.S. § 547. The issue was whether the lien created by service of a writ of garnishment constituted a "judicial lien" or a "statutory lien."The debtor moved for summary judgment.
Ruling: 
Lien created by service of a writ of garnishment was a judicial lien and subject to avoidance.
ABI Membership is required to access the full summary of Advantage One Mortg. Corp. v. SCP-Capri MG Owner LLC (In re Advantage One Mortg. Corp.). Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Commercial case opionion summary, case decided on November 04,2008, LexisNexis #0109-083

Securities Investor Prot. Corp. v. Continental Capital Inv. Servs. (In re Continental Capital Inv. Servs.)

Plaintiff, the Securities Investor Protection Corporation (SIPC), filed an action against defendant debtor, resulting in appointment of a trustee for debtors' liquidation. A customer of debtor (claimant) filed two claims, which were denied by the trustee. The claimant filed a timely objection to the trustee's determination. The claims were before the court on the motion for summary judgment filed by the SIPC and the trustee.
Ruling: 
Claim against debtor investment service disallowed where creditor was not a "customer" entitled to protection under Securities Investor Protection Act.
ABI Membership is required to access the full summary of Securities Investor Prot. Corp. v. Continental Capital Inv. Servs. (In re Continental Capital Inv. Servs.). Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Commercial case opionion summary, case decided on November 04,2008, LexisNexis #0909-030

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.
ABI Membership is required to access the full summary of In re American Home Mortg. Holdings Inc.. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Commercial case opionion summary, case decided on October 31,2008, LexisNexis #1208-074

In re High Tech Packaging Inc.

An involuntary petition was filed against debtor corporation on May 15, 2008, and on June 9, 2008, the court adjudicated the corporation a debtor and appointed a trustee to represent the bankruptcy estate. The trustee filed a motion seeking permission to compromise claims creditors filed against the debtor's bankruptcy estate, and two creditors filed a limited objection to the trustee's motion.
Ruling: 
Settlement of claims against involuntary debtor's estate approved over objections of guarantors.
ABI Membership is required to access the full summary of In re High Tech Packaging Inc.. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Commercial case opionion summary, case decided on October 31,2008, LexisNexis #0109-093

In re SVI Media Inc.

A law firm, chapter 7 debtors'counsel, filed an application for an award of attorney fees and costs, to be paid out of prepetition retainers. The Chapter 7 trustee filed an application to retain an attorney from the firm to represent the trustee pursuant to 11 U.S.C.S. § 327.
Ruling: 
Debtor's attorney whose fees exceeded prepetition retainer was a creditor and could not be retained by the trustee.
ABI Membership is required to access the full summary of In re SVI Media Inc.. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Commercial case opionion summary, case decided on October 31,2008, LexisNexis #0209-106

Pages