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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

Shaw Group Inc. v. SWE&C Liquidating Trust (In re Stone & Webster Inc.)

Appellant, a buyer of debtors'assets, challenged an order of the bankruptcy court of the District of Delaware denying its motion to intervene under Fed. R. Civ. P. 24(a)(1), (2) and 11 U.S.C.S. § 1109(b) in an adversary the debtors, a company and its subsidiary, filed to contest their liability under the company's guarantee of any award against the subsidiary's joint venture in connection with an oil company contract.
Ruling: 
Bankruptcy court properly denied motion by purchaser of debtor's assets to intervene in adversary proceeding based on alleged subrogation rights to creditor's claim.
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Commercial case opionion summary, case decided on November 13,2008, LexisNexis #1208-103

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

In re Mystic Tank Lines Corp.

Appellant debtor, a gasoline shipper, challenged a judgment of the United States District Court for the District of New Jersey, affirming the bankruptcy court's allowance of a claim by appellee the State of New York based on damages for the clean-up of soil and groundwater contaminated with petroleum products caused by a leak at a gas station that was traced to a delivery of gasoline by the debtor.
Ruling: 
Default judgment for environmental clean-up after debtor caused a gasoline leak was within police powers exception to stay.
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Commercial case opionion summary, case decided on October 16,2008, LexisNexis #1108-060

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

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