Search Opinion

Argo Fund Ltd. v. Board of Dirs. of Telecom Arg. S.A. (In re Board of Dirs. of Telecom Arg. S.A.)

Appellant creditor appealed from a decision by the United States District Court for the Southern District of New York, which affirmed an order of the bankruptcy court), granting a petition by appellee, the board of directors of debtor, a major Argentine telecommunications company, for recognition of an ancillary foreign insolvency proceeding under former 11 U.S.C.S. § 304.
Ruling: 
Recognition of ancillary foreign proceeding affirmed.
ABI Membership is required to access the full summary of Argo Fund Ltd. v. Board of Dirs. of Telecom Arg. S.A. (In re Board of Dirs. of Telecom Arg. S.A.). 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 May 29,2008, LexisNexis #0608-134

1633 Broadway Mars Rest. Corp. v. Paramount Group Inc. (In re 1633 Broadway Mars Rest. Corp.)

Before the court was a motion to dismiss the chapter 11 petition of plaintiff debtor brought by defendant, debtor's landlord, on the ground that it was a bad faith attempt to modify an earlier plan of reorganization that had been substantially consummated.
Ruling: 
Bad faith dismissal of debtor's second chapter 11 case denied as curing of default under prior plan was legitimate basis for refiling.
ABI Membership is required to access the full summary of 1633 Broadway Mars Rest. Corp. v. Paramount Group Inc. (In re 1633 Broadway Mars Rest. 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 May 22,2008, LexisNexis #0608-122

Quigley Co. v. Coleman (In re Quigley Co.)

A law firm, which represented asbestos claimants that had sued a chapter 11 debtor's non-debtor parent prior to the debtor's petition date, claimed that an amended injunction issued by the court did not enjoin the claims asserted by the claimants that were based on the Restatement (Second) of Torts § 400 (Section 400).
Ruling: 
"Apparent" manufacturer liability of debtor's parent in asbestos case was covered by channeling injunction.
ABI Membership is required to access the full summary of Quigley Co. v. Coleman (In re Quigley Co.). 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 May 15,2008, LexisNexis #0708-030

Go West Entertainment Inc. v. New York State Liquor Auth. (In re Go West Entertainment Inc.)

Plaintiff debtor filed a motion for a preliminary injunction staying the effectiveness of the revocation of the debtor's liquor license by defendant New York State Liquor Authority (SLA). The debtor sought a stay pending its appeal in the state courts of the SLA's revocation of the license.
Ruling: 
Court declined to stay revocation of liquor license that was crucial to debtor's ability to conduct business.
ABI Membership is required to access the full summary of Go West Entertainment Inc. v. New York State Liquor Auth. (In re Go West Entertainment 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 May 14,2008, LexisNexis #0608-106

In re Ampex Corp.

Movant shareholder filed a motion for an order directing the appointment of an official committee of equity security holders under 11 U.S.C.S. § 1102(a)(2). Respondents, the debtors, the United States Trustee, and a creditor opposed the motion.
Ruling: 
Appointment of official committee of equity security holders denied where significant distribution was unlikely.
ABI Membership is required to access the full summary of In re Ampex 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 May 14,2008, LexisNexis #0608-121

Board of Tr. Adirondack Carpenters Pension Fund v. Parker (In re Parker)

Plaintiff boards of trustees of employee benefit plans brought an adversary proceeding against defendant bankruptcy debtor, alleging that debts to the plans owed by the debtor as an employer were nondischargeable under 11 U.S.C.S. § 523(a)(4) based on fiduciary defalcation, larceny, or embezzlement. The bankruptcy court conducted a trial.
Ruling: 
Debtor employer's failure to make contributions to employee benefit plans did not render debt nondischargeable as its role was not that of a fiduciary.
ABI Membership is required to access the full summary of Board of Tr. Adirondack Carpenters Pension Fund v. Parker (In re Parker). 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 May 07,2008, LexisNexis #0608-046

Varde Inv. Partners LP v. Comair Inc. (In re Delta Air Lines Inc.)

Pending was the reorganized defendant debtors' motion under Fed. R. Bankr. P. 7012 and Fed. R. Civ. P. 12(b) to dismiss the Amended Complaint. Plaintiff claimants alleged they held $ 125,000,000 in claims against one or more of the debtors. The Amended Complaint (AC) asserted a single claim under 11 U.S.C.S. § 1144 to revoke debtors' confirmed Plan of Reorganization based upon debtors' alleged fraud in procurement of the confirmation order.
Ruling: 
Belated attempt by five creditors to revoke plan that was nearly unanimously approved dismissed due to lack of standing or factual support.
ABI Membership is required to access the full summary of Varde Inv. Partners LP v. Comair Inc. (In re Delta Air Lines 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 April 30,2008, LexisNexis #0608-104

COR Route 5 Co. LLC v. Penn Traffic Co. (In re Penn Traffic Co.)

Appellant creditor sought review of an order of U.S. District Court for the Southern District of New York, which affirmed a bankruptcy court order authorizing appellee debtor's rejection of an executory contract under 11 U.S.C.S. § 365(a). Prior to the commencement of the bankruptcy case, the creditor, a commercial real estate developer, entered into a contract with the debtor, a food retailer, to develop a new supermarket on certain property.
Ruling: 
Bankruptcy court properly held that postpetition completion of creditor's obligations under executory contract did affect debtor's ability to reject.
ABI Membership is required to access the full summary of COR Route 5 Co. LLC v. Penn Traffic Co. (In re Penn Traffic Co.). 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 April 29,2008, LexisNexis #0508-097

In re Applied Theory Corp.

The chapter 11 trustee moved for authorization to enter into a settlement agreement with the secured lenders of the debtor. The motion was opposed by the creditors' committee, which generally argued that aspects of the settlement were contrary to law and prejudicial to the debtors'unsecured creditor community and administrative expense creditors.
Ruling: 
Settlement disapproved as prejudicial to unsecured creditors and administrative expense creditors.
ABI Membership is required to access the full summary of In re Applied Theory 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 April 24,2008, LexisNexis #0608-140

In re Noeth Corp.

A debtor filed for relief under chapter 11 of the Bankruptcy Code. A law firm, as counsel for the debtor, filed for consideration an application for final compensation, pursuant to 11 U.S.C.S. § 330. The United States trustee objected to the fee application.
Ruling: 
Debtor's attorneys' fees approved with reductions for prepetition services and travel expenses.
ABI Membership is required to access the full summary of In re Noeth 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 April 24,2008, LexisNexis #0608-109

Pages