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Richardson v. Preston (In re Antex Inc.)

Defendant transferee appealed a decision of the Bankruptcy Court for the District of Rhode Island that granted summary judgment in favor of plaintiff chapter 7 trustee, on his fraudulent transfer complaint.
Ruling: 
Bankruptcy court properly avoided transfer on basis that recipient, not paying corporate officer, was initial transferee.
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Commercial case opionion summary, case decided on December 08,2008, LexisNexis #0309-033

UMW 1974 Plan & Trust v. Lexington Coal Co. LLC (In re HNRC Dissolution Co.)

Debtors participated in a multiemployer pension plan until they terminated operations two years after filing chapter 11 cases. Termination constituted a complete withdrawal from the plan and caused them to incur withdrawal liability under the Employee Retirement Income Security Act. The plan challenged the U.S. Bankruptcy Court for the Eastern District of Kentucky's order denying its application for allowance of an administrative expense claim.
Ruling: 
Disallowance of administrative expense claim by multiemployer pension plan affirmed.
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Commercial case opionion summary, case decided on November 04,2008, LexisNexis #1208-065

Blodgett v. Stoebner (In re T.G. Morgan Inc.)

Appellant objectors sought review of a decision of the United States Bankruptcy Court for the District of Minnesota, which denied their objections to a final report filed by a chapter 7 trustee and which denied their motion for reconsideration filed under Fed. R. Civ. P. 60(b).
Ruling: 
Objections to trustee's final report properly overruled where objectors did not have allowed claims and lacked standing.
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Commercial case opionion summary, case decided on October 01,2008, LexisNexis #1008-137

In re Scarlet Hotels LLC

The debtor appealed from a final order of the United States Bankruptcy Court for the Middle District of Tennessee, challenging the court's award of attorney's fees to law firms for their representation of a trust, the primary creditor of debtor, which operated and was renovating a single asset, a hotel. The debtor argued that the award of $ 469,846 in fees and costs was unreasonable.
Ruling: 
Large award of attorneys' fees of oversecured creditors allowed to stand as due to debtor's poor management of its single asset.
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Commercial case opionion summary, case decided on August 22,2008, LexisNexis #0908-021

General Elec. Credit Equities Inc. v. Brice Rd. Dev. L.L.C. (In re Brice Rd. Dev. L.L.C.)

Appellant creditor challenged a decision of the United States Bankruptcy Court for the Southern District of Ohio, which confirmed appellee debtor's plan over the objections of the creditor, which claimed that the plan was not feasible as required by 11 U.S.C.S. § 1129(a)(11), was not fair and equitable as required by § 1129(b)(2), and failed to accord the creditor its rights as an electing secured creditor under 11 U.S.C.S. § 1111(b)(2).
Ruling: 
Plan did not afford creditor full rights as electing secured creditor where proposed payments did not total allowed amount of claim.
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Commercial case opionion summary, case decided on August 14,2008, LexisNexis #0908-029

FDIC v. Kipperman (In re Commercial Money Ctr. Inc.)

Appellee chapter 7 trustee filed an adversary proceeding against a bank, seeking a judgment avoiding the bank's security interest in rights to future payments due under various leases, and in contract rights under surety bonds. The U.S. Bankruptcy Court for the Southern District of California granted summary judgment in favor of the trustee, and appellant Federal Deposit Insurance Corporation, as receiver for the bank, appealed.
Ruling: 
Bank's purchase of interest in lease pools avoided as not timely perfected.
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Commercial case opionion summary, case decided on August 04,2008, LexisNexis #0908-067

Murray Inc. v. Agripool SRI (In re Murray Inc.)

Plaintiff, a trustee of the debtor's liquidating trust, appealed an order of the Bankruptcy Court for the Middle District of Tennessee, which dismissed the adversary complaint filed by the trust against defendant supplier to avoid certain payments as preferential transfers and to recover $271,242 for the estate, pursuant to 11 U.S.C.S. §§ 547 and 550.
Ruling: 
Speculative opinion of expert was not proper basis for allowance of ordinary course of business defense to avoidance.
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Commercial case opionion summary, case decided on July 24,2008, LexisNexis #0808-100

Woods & Erickson LLP v. Leonard (In re AVI Inc.)

Appellant law firm sought review of a decision of the Bankruptcy Court for the District of Nevada, which avoided a transfer of appellee debtor's assets to a third-party transferee, pursuant to 11 U.S.C.S. §§ 549 and 550. The law firm was ordered to turn over $38,354 in unauthorized legal fees made from the transfer transaction.
Ruling: 
Bankruptcy court properly avoided attorneys' fees for transfer of assets to third party between dismissal and reversal of dismissal.
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Commercial case opionion summary, case decided on June 13,2008, LexisNexis #0808-034

Omega Counsulting v. Edwards (In re Future Trust Inc.)

Appellant claimant, the purported assignee of the debtor, challenged an order of the Bankruptcy Court for the Western District of Missouri that denied its application for payment of unclaimed funds from the chapter 11 bankruptcy estate. The issue was whether the bankruptcy court erred when it denied appellant's motion for payment of unclaimed funds pursuant to 11 U.S.C.S. § 347(b) and 11 U.S.C.S. § 1143.
Ruling: 
Bankruptcy court properly denied motion for payment of unclaimed funds.
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Commercial case opionion summary, case decided on May 08,2008, LexisNexis #0608-094

Kaler v. Bala (In re Racing Servs.)

Appellants, the chapter 7 trustee and the State of North Dakota, challenged a ruling of the Bankruptcy Court for the District of North Dakota granting a motion to vacate part of an order that had equitably subordinated the claims of appellee, the former founder and CEO of debtor, as permitted by 11 U.S.C.S. § 510. Both appellants had unsuccessfully objected to the motion to vacate.
Ruling: 
Bankruptcy court did not abuse discretion in partially vacating order for equitable subordination of claims by debtor's founder and former CEO.
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Commercial case opionion summary, case decided on April 25,2008, LexisNexis #0508-080

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