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In re Oversight & Control Commn of Avanzit S.A.

After a foreign telecommunications company filed a suspension, or insolvency, proceeding in a foreign country, a foreign bank terminated its agreement to acquire contractual credits from the company and set off the amount it paid the company against amounts allegedly owed. An oversight commission in the foreign proceeding applied for recognition of the foreign proceeding, and the bank moved for summary judgment of dismissal.
Ruling: 
Application for recognition of foreing proceeding granted.
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Commercial case opionion summary, case decided on April 18,2008, LexisNexis #0508-092

In re Oversight & Control Commn of Avanzit S.A.

After a foreign telecommunications company filed a suspension, or insolvency, proceeding in a foreign country, a foreign bank terminated its agreement to acquire contractual credits from the company and set off the amount it paid the company against amounts allegedly owed. An oversight commission in the foreign proceeding applied for recognition of the foreign proceeding, and the bank moved for summary judgment of dismissal.
Ruling: 
Foreign proceeding in which court continued to oversee plan after approval was "pending" and could be recognized as a foreign main proceeding.
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Commercial case opionion summary, case decided on April 18,2008, LexisNexis #0508-022

In re Windham Mills Dev. Corp.

A debtor filed for relief under chapter 11 of the Bankruptcy Code. The debtor submitted a plan allowing a secured creditor to purchase the debtor's property as part of the plan of reorganization. The court issued an order that determined the value of the collateral, pursuant to 11 U.S.C.S. § 506 (506. The State of Connecticut, Department of Economic and Community Development (the DECD) filed a motion to vacate the 506 order.
Ruling: 
Redetermination of value of collateral appropriate given changed circumstances.
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Commercial case opionion summary, case decided on April 08,2008, LexisNexis #0508-135

D.A. Elia Constr. Corp. v. Damon & Morey LLP

Plaintiff, the former client of defendant law firm, commenced an action in state court against the law firm that had represented the client when it was a debtor in a complex chapter 11 reorganization. The complaint stated claims for legal malpractice and conflicts of interest. The law firm moved for summary judgment, asserting that all of the state law claims were barred by res judicata. The client moved to remand the case to state court.
Ruling: 
Legal malpractice action against chapter 11 debtor's counsel dismissed as resolved in original fee request proceeding.
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Commercial case opionion summary, case decided on March 31,2008, LexisNexis #0408-096

In re Source Enters.

A law firm applied for payment of fees and reimbursement of expenses in connection with its representation of the debtor in a chapter 11 bankruptcy case.
Ruling: 
Attorneys' fees denied where firm held undisclosed interest adverse to estate.
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Commercial case opionion summary, case decided on March 27,2008, LexisNexis #0508-004

In re Cantico Intl Ltd.

A trustee filed a motion for monetary sanctions, pursuant to Fed. R. Bankr. P. 9011, against a putative owner and his attorney in an involuntary chapter 11 case.
Ruling: 
Sanctions imposed against putative owner of property for filing involuntary chapter 11 case to delay foreclosure without justification.
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Commercial case opionion summary, case decided on March 19,2008, LexisNexis #0508-057

In re M. Fine Lumber Co.

Chapter 11 debtor filed a motion to assume its commercial lease with a landlord pursuant to 11 U.S.C.S. § 365. The landlord objected to the debtor's assumption of the lease.
Ruling: 
Assumption of lease allowed provided debtor cured prepetition defaults and paid security within ten days.
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Commercial case opionion summary, case decided on March 12,2008, LexisNexis #0408-007

In re Milford Conn. Assocs. LP

A debtor filed for relief under chapter 11 of the Bankruptcy Code. The debtor submitted a proposed plan of reorganization for confirmation.
Ruling: 
Reconfirmation of plan, original confirmation of which was vacated, denied due to failure to satisfy feasibility requirement.
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Commercial case opionion summary, case decided on March 10,2008, LexisNexis #0408-137

In re Northwest Airlines Corp.

Financial advisors which were properly retained by a committee of unsecured creditors in a bankruptcy case were awarded fees and costs in accordance with their previously approved retention agreements. The advisors requested additional success or completion fees based on the successful reorganization of bankruptcy debtors.
Ruling: 
Financial advisors to committee of unsecured creditors were not entitled to success/completion fees.
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Commercial case opionion summary, case decided on February 29,2008, LexisNexis #0408-026

In re Quigley

A bankruptcy debtor submitted a proposed ballot to solicit votes on the debtor's reorganization plan from individuals who held asbestos personal injury claims. An ad hoc committee of asbestos victims objected to the ballot on the ground that it did not seek to identify individuals whose causes of action were unenforceable under state tort reform laws.
Ruling: 
Personal injury claimants' inability to satisfy state's proof requirements did not affect right to vote on chapter 11 plan.
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Commercial case opionion summary, case decided on February 26,2008, LexisNexis #0308-103

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