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In re Clearpoint Bus. Res. Inc.

Debtors moved to enjoin an alleged violation of the automatic stay by a contracting party. Debtors invoked 11 U.S.C.S. §§ 105, 362, 541 to halt the contracting party's claim that pre-petition agreements between debtors and the contracting party terminated by their own terms and therefore the automatic stay was not implicated. A hearing was held.
Ruling: 
Termination of agreement based on amendments thereto did not violate stay.
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Commercial case opionion summary, case decided on December 30,2010, LexisNexis #0111-107

Fitness Intl LLC v. Buttermilk Towne Ctr. LLC (In re Buttermilk Towne Ctr. LLC)

Lessee sought a declaratory judgment permitting it to offset its post-rejection rent obligations to defendant, a chapter 11 debtor that leased retail space to the lessee, under a pre- petition subordination agreement pursuant to 11 U.S.C.S. § 510(a).
Ruling: 
Creditor lessee could not offset rent obligations under rejected lease.
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Commercial case opionion summary, case decided on December 30,2010, LexisNexis #0211-017

In re 1601 W. Sunnyside 106 LLC

Debtor limited liability company ("LLC") filed a petition under chapter 11, and it asked the court by motion to find that a bank and the bank's servicing agent violated 11 U.S.C.S. § 362 when they foreclosed on property the LLC owned several months after the LLC declared bankruptcy, and to award the LLC damages, attorneys' fees, and costs for that violation. Only the servicing agent responded to the LLC's motion.
Ruling: 
Debtor LLC awarded fees and costs for creditors' postpetition foreclosure in violation of stay.
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Commercial case opionion summary, case decided on December 30,2010, LexisNexis #0211-005

SJI Inc. v. Staehnke (In re SJI Inc.)

Defendants filed a claim for $86,221, arising from remodeling by plaintiff debtor. Debtor objected and counterclaimed for breach of contract in the amount of $146,000, for additional unpaid materials and labor provided and performed. The counterclaim also alleged debtor was owed $248,465, based upon quantum meruit, plus interest, costs, disbursements, and fees. Defendants sought abstention by the court in liquidating the claim and counterclaim.
Ruling: 
Bankruptcy court declined to abstain from hearing fact driven contract claim based on well settled law.
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Commercial case opionion summary, case decided on December 29,2010, LexisNexis #0111-138

In re Geo. W. Park Seed Co.

Movant creditor sought the allowance and payment of an administrative super-priority claim, under 11 U.S.C.S. § 507(a) and (b), on the basis that the adequate protection provided by the trustee for its claim secured by cash collateral had failed, causing it to suffer loss in its secured position. The chapter 11 trustee objected, asserting the creditor had released any such claim in a settlement agreement.
Ruling: 
Administrative super priority claim disallowed as released in settlement agreement.
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Commercial case opionion summary, case decided on December 29,2010, LexisNexis #0311-116

In re Palmas del Mar Country Club Inc.

This case was before the court on debtor's objection to the priority status of Proofs of Claim filed by five claimants. The claimants filed oppositions to the objection.
Ruling: 
Claims for return of club membership "deposits" that were not treated as security of held in trust were not entitled to priority status.
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Commercial case opionion summary, case decided on December 29,2010, LexisNexis #0211-076

In re Panacea Partners LLC

Chapter 7 debtor sought allowance and payment of final compensation, specifically, fees in the amount of $81,628 and reimbursement of expenses in the amount of $2,601.64.
Ruling: 
Debtor's attorneys' fees allowed with reduction for insufficiently specific time entries.
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Commercial case opionion summary, case decided on December 29,2010, LexisNexis #0211-003

In re Royal West Props.

Chapter 7 trustee objected to secured claims filed by investors of the debtor's business.
Ruling: 
Creditor investors with unperfected security interests in reacquired real estate held unsecured claims.
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Commercial case opionion summary, case decided on December 29,2010, LexisNexis #0211-015

In re Probulk Inc.

A chapter 7 trustee filed objections seeking to reclassify four claims as general unsecured claims. The claims were asserted by the exclusive administrator of the Liberian ship registry (administrator), who alleged that the claims represented annual tonnage and other taxes due to Liberia and were entitled to priority under 11 U.S.C.S. § 507(a)(8)(B) and (a)(8)(C).
Ruling: 
Tonnage and tax claims of Liberian ship registry were entitled to priority status.
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Commercial case opionion summary, case decided on December 23,2010, LexisNexis #0211-077

In re British Am. Isle of Venice Ltd.

Petitioner was appointed by the High Court of Justice, British Virgin Islands, Commercial Court (the "BVI court"), to liquidate a British Virgin Islands corporation that conducted business in the United States, and he filed a petition in the bankruptcy court which asked the court to recognize the action in the BVI court as a foreign main proceeding under 11 U.S.C.S. § 1517(b)(1). A creditor opposed the petition.
Ruling: 
Petitioner who represented debtor's parent, debtor's largest creditor, in other bankruptcy cases was eligible to seek recognition of foreign main proceeding.
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Commercial case opionion summary, case decided on December 23,2010, LexisNexis #0111-099

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