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In re Caraballo

A debtor filed for relief under chapter 7 of the Bankruptcy Code. The debtor opted to reaffirm a secured debt on the debtor's real property, pursuant to 11 U.S.C.S. § 524(c). The debtor had filed a motion for approval of reaffirmation agreements, which the court orally granted and then vacated for a further hearing. After the hearing, the court issued findings.
Ruling: 
Reaffirmation of debt secured by real property was not in debtor's best interests due to continued availability of ride-through option.
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Consumer case opionion summary, case decided on April 29,2008, LexisNexis #0608-010

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.
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Commercial case opionion summary, case decided on April 29,2008, LexisNexis #0508-097

In re Schneider

Both the chapter 13 trustee and a creditor objected to confirmation of debtors' plan under 11 U.S.C.S. § 1325. At issue was whether debtors were committing all of their "projected disposable income" to make payments to unsecured creditors under the plan.
Ruling: 
Form 22C expenses are solely for calculation of monthly disposable income and should not be used to adjust Schedule I projected disposable income.
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Consumer case opionion summary, case decided on April 28,2008, LexisNexis #0608-124

In re Clave

Debtor filed her chapter 7 petition on November 16, 2007. On January 23, 2008, her husband died, leaving her as the beneficiary of a life insurance policy in the amount of $ 250,000. On January 30, 2008, she filed a motion to convert her case to chapter 13. The trustee opposed the motion and asserted a possessory interest in the policy proceeds. On March 4, 2008, the trustee filed a motion to compel the Debtor to turnover the proceeds.
Ruling: 
Motion to compel turnover of insurance proceeds denied in absence of bad faith and conversion to chapter 13 granted.
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Consumer case opionion summary, case decided on April 28,2008, LexisNexis #0608-112

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.
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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.
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Commercial case opionion summary, case decided on April 24,2008, LexisNexis #0608-109

In re Criscuolo

Debtors filed a joint voluntary petition under chapter 7 of the Bankruptcy Code on April 26, 2001, and they received a discharge on August 29, 2001. The court reopened the debtors' case on April 26, 2006, so that one of the debtors could file an action against a bank, seeking an order under 11 U.S.C.S. § 522(f) avoiding judgment liens the bank had placed on real property the debtor owned.
Ruling: 
Lien securing deficiency judgment arising from mortgage foreclosure was not avoidable.
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Consumer case opionion summary, case decided on April 18,2008, LexisNexis #0508-098

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 Churco

Special counsel to the chapter 7 Trustee filed an application for fees. A creditor objected.
Ruling: 
Special counsel not entitled to fees for services that went beyond scope of appointment order.
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Consumer case opionion summary, case decided on April 10,2008, LexisNexis #0508-074

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