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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.
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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.
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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.
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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.
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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.
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Commercial case opionion summary, case decided on November 07,2008, LexisNexis #1208-041

Cailouet v. First Bank & Trust (In re Entringer Bakeries Inc.)

A bankruptcy court found plaintiff trustee could avoid a debtor's transfer to defendant bank as an 11 U.S.C.S. § 547(b) preference but the funds were "earmarked" for the bank (out of a new lender's loan) and thus avoidable only to the extent the estate was diminished. The district court for the Eastern District of Louisiana affirmed. The trustee appealed the application of the earmarking doctrine; both parties appealed the amount.
Ruling: 
Earmarking doctrine did not apply with regard to preferential transfer where debtor had complete control of funds.
Court: 5th Circuit ( ) [ Circuit Court ]
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Commercial case opionion summary, case decided on November 06,2008, LexisNexis #1208-098

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.
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Commercial case opionion summary, case decided on November 04,2008, LexisNexis #0109-083

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

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.
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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.
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Commercial case opionion summary, case decided on October 31,2008, LexisNexis #1208-074

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