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In re Source Enters.

Appellant, a law firm that had represented affiliated debtors as bankruptcy counsel challenged an order of the U.S. Bankruptcy Court for the Southern District of New York confirming its plan of reorganization. At issue was whether appellant's challenge to confirmation was foreclosed because the plan had been"substantially consummated" within the meaning of 11 U.S.C.S. § 1101(2) and whether other provisions were violated.
Ruling: 
Appeal of plan confirmation denied as moot due to substantial consummation.
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Commercial case opionion summary, case decided on August 12,2008, LexisNexis #0908-010

City of Ann Arbor Employees Ret. Sys. v. Citigroup Mortg. Loan Trust Inc.

Plaintiff retirement system and investors brought a class action against defendant mortgage loan trusts in state court, alleging violations of 15 U.S.C.S. §§ 77k and 77o. The matter was removed to federal district court. The retirement system and investors moved to remand on the ground that 15 U.S.C.S. § 77v(a) prohibited removal of cases brought under the Securities Act of 1933.
Ruling: 
Securities claims had conceivable effect on debtor's bankruptcy and were properly removed.
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Commercial case opionion summary, case decided on August 11,2008, LexisNexis #0908-061

In re Vinieris

Movant creditor sought dismissal of a chapter 13 on the basis that it was a judgment creditor with a secured claim against debtor exceeding $9.9 million, rendering debtor ineligible to file a chapter 13 due to 11 U.S.C.S. § 109(e). Debtor opposed the motion on the ground that movant was no longer a judgment creditor by reason of the age of the underlying judgment. The status of the debt under state law including N.Y. C.P.L.R. § 5014 was at issue.
Ruling: 
Secured judgment that was still valid after more than twenty years was in excess of chapter 13 debt limits, disqualifying debtor.
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Consumer case opionion summary, case decided on August 07,2008, LexisNexis #0808-107

Nash v. Gentile

Appellant special counsel was appointed special counsel to a trustee. The counsel filed two complaints alleging conversion, fraud, and breach of contract. A bankruptcy judge dismissed the complaints, and denied the counsel's motion to amend with prejudice. The United States Bankruptcy Court for the Northern District of New York issued a decision and order sanctioning the counsel pursuant to 28 U.S.C.S. § 1927. The counsel appealed.
Ruling: 
Special counsel to trustee properly sanctioned for meritless motions to amend dismissed complaints.
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Consumer case opionion summary, case decided on August 06,2008, LexisNexis #0908-034

United States v. Argenti (In re Argenti)

Plaintiff creditor brought an adversary proceeding against defendant bankruptcy debtor seeking a denial of the debtor's discharge under 11 U.S.C.S. § 727(a)(4)(A) based on the debtor's false statements under oath. The bankruptcy court conducted a trial.
Ruling: 
Discharge denied due to debtor's false statements under oath.
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Consumer case opionion summary, case decided on August 04,2008, LexisNexis #1208-069

In re Calpine Corp.

Debtor and its affiliated reorganized debtors (hereafter referred to as debtor) sought entry of an order granting debtor's objection, pursuant to 11 U.S.C.S. § 502 and Fed. R. Bankr. P. 3007, to claims filed by two claimants (hereafter referred to as the claimant).
Ruling: 
Previously withdrawn claims refiled postconfirmation as claims for "rejection damages" disallowed.
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Commercial case opionion summary, case decided on August 04,2008, LexisNexis #0908-045

In re Sudano Inc.

Over the objection of the controlling principal of corporate bankruptcy debtors, the debtors' apartment buildings were sold and the interests of shareholders were extinguished. The principal subsequently died and the son of the principal, on behalf of the surviving spouse of the principal, moved for an award of damages to the spouse alleging that the bankruptcy trustee failed to provide notice to the spouse and mismanaged the debtors' affairs.
Ruling: 
Son of corporate debtor's deceased principal lacked capacity to represent non-shareholder mother regarding trustee's alleged mismanagement of case.
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Commercial case opionion summary, case decided on July 30,2008, LexisNexis #0808-140

White Oak Corp. v. American Intl Group Inc. (In re National Eastern Corp.)

One plaintiff and one defendant (objecting parties) filed motions to abstain and to remand to state court the captioned adversary proceeding, which had been removed to the bankruptcy court pursuant to 28 U.S.C.S. § 1452(a). The basis of the complaint was that defendants, sureties and attorneys, rather than acting on the behalf of the plaintiffs, the debtor and its affiliates under an indemnity agreement, acted in their own self-interest.
Ruling: 
Proceeding against debtor contractor's sureties and attorneys for acting in self-interest under indemnity agreement remanded to state court.
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Commercial case opionion summary, case decided on July 25,2008, LexisNexis #0808-088

In re Koch

The chapter 13 trustee objected to confirmation of the plan proposed by the debtor under 11 U.S.C.S. § 1325. The issue was whether payments on vehicles that the debtor planned to surrender as part of his chapter 13 plan could be used to reduce monthly disposable income calculated on Official Bankr. Form 22C.
Ruling: 
Debtor not entitled to expense deduction for surrendered vehicles.
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Consumer case opionion summary, case decided on July 25,2008, LexisNexis #0808-122

Silverman v. Sound Around Inc. (In re Allou Distribs.)

Plaintiff chapter 7 trustee's amended adversary complaint against defendant transferee pleaded causes of action for actual fraud pursuant to N.Y. Debt. & Cred. Law § 276, constructive fraud pursuant to N.Y. Debt. & Cred. Law §§ 273, 274, 275, and unjust enrichment. Before the court was the transferee's amended motion for judgment dismissing the action pursuant to Fed. R. Civ. P. 52.
Ruling: 
Trustee's avoidance proceeding against transferees of property supported by qualified triggering creditors.
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Commercial case opionion summary, case decided on July 25,2008, LexisNexis #0908-068

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