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Togut v. RBC Dain Correspondent Servs. (In re S.W. Bach & Co.)

Plaintiff, chapter 7 Trustee of debtor, a former broker-dealer, sought partial summary judgment under Fed. R. Civ. P. 56, made applicable by Fed. R. Bankr. P. 7056, against defendant, a broker-dealer (hereafter, the "broker-dealer"), on the Trustee's constructive fraudulent transfer claim under 11 U.S.C.S. § 548(a)(1)(B) (Count Nine). The broker-dealer in turn sought denial of partial summary judgment and a dismissal of Count Nine.
Ruling: 
Transfer by debtor's clearing agent of customer accounts to broker-dealer without consideration was a "transfer of an interest of the debtor in property" and a constructive fraudulent conveyance.
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Commercial case opionion summary, case decided on August 18,2010, LexisNexis #0910-055

In re Schultz

Claimant ex-wife filed a motion to dismiss debtor's chapter 11 case for cause pursuant to 11 U.S.C.S. § 1112(b)(1) on a claim that the case was not filed in good faith while debtor argued that his case was properly converted to chapter 13 under § 1112(d) on the basis that conversion was in the best interest of his creditors and the estate.
Ruling: 
Case of debtor with no business dismissed for bad faith as filed primarily due to dispute with debtor's former spouse.
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Consumer case opionion summary, case decided on July 22,2010, LexisNexis #0910-098

In re Velez

In his chapter 13 case, debtor moved to modify the interest rate of a secured claim. The motion was unopposed.
Ruling: 
Debtor could not modify interest rate on "910 vehicle" loan to Till rate.
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Consumer case opionion summary, case decided on July 07,2010, LexisNexis #0910-133

In re Project Orange Assocs. LLC

Debtor LLC filed a petition under chapter 11 of the Bankruptcy Code on April 29, 2010, and on May 20, 2010, a law firm filed an application seeking appointment as the debtor's general bankruptcy counsel under 11 U.S.C.S. § 327(a). The United States Trustee (UST) filed an objection to the firm's application, claiming that the firm's ongoing relationship with the debtor's largest creditor created a conflict of interest.
Ruling: 
Firm's application to serve as debtor's counsel denied due to ongoing relationship with largest creditor.
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Commercial case opionion summary, case decided on June 23,2010, LexisNexis #0910-036

In re Sweet N Sour 7th Ave. Corp.

Movant, the landlord and a creditor of the debtor, moved the court for an order modifying the automatic stay to permit the it to enforce a prepetition warrant of eviction it had obtained against the debtor, terminating the lease. The landlord also sought to apply the debtor's security deposit to past-due rent, arguing that it was entitled to exercise the right of recoupment as to the deposit.
Ruling: 
Stay lifted to allow debtor to vacate eviction order and possibly assume lease.
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Commercial case opionion summary, case decided on June 18,2010, LexisNexis #0810-110

In re BH S&B Holdings LLC

Debtors filed for chapter 11 relief and rejected two leases. Under 11 U.S.C.S. §§ 365 and 503, the landlords filed proofs of claim seeking administrative expense status for payments due upon the termination of two leases, as well as for rent, maintenance, real estate taxes, and utility charges. The debtors, debtors-in-possession, and the official committee of unsecured creditors objected to the proofs of claim.
Ruling: 
Deferred payment obligations under rejected leases were general unsecured claims.
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Commercial case opionion summary, case decided on April 07,2010, LexisNexis #0610-045

In re Jensen

A chapter 13 trustee filed a motion to dismiss a debtor's case pursuant to 11 U.S.C.S. § 1307(c)(1). The debtor opposed the motion but argued, in the alternative, that if the court was going to dismiss the case, it should instead convert the case to a case under chapter 7. During argument, the trustee's counsel argued, in the alternative, that if the case was not dismissed, it should be converted to a case under chapter 7.
Ruling: 
Case converted to chapter 7 due to unreasonable delays by debtor.
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Consumer case opionion summary, case decided on March 17,2010, LexisNexis #0510-064

Togut v. RBC Dain Correspondent Servs. (In re S.W. Bach & Co.)

Plaintiff chapter 7 trustee filed an adversary proceeding against defendants, a chapter 7 debtor's former president, a securities broker-dealer, a clearing firm, and others, alleging, inter alia, that the former president aided and abetted the debtor in making fraudulent transfers to the broker- dealer. The broker-dealer filed a motion to stay action on Count 9 of the trustee's complaint and to compel the trustee to arbitrate Counts 8 and 10.
Ruling: 
Arbitration stayed pending resolution of fraudulent transfer issue by bankruptcy court.
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Commercial case opionion summary, case decided on March 10,2010, LexisNexis #0510-036

In re Minbatiwalla

A creditor filed a proof of claim in a debtor's bankruptcy case based on a mortgage against the debtor's residence and the creditor attached a summary containing the case number, the name of the debtor, the loan number, and a list of the principal, interest, and late charges. The debtor objected to the creditor's claim based on insufficient documentation.
Ruling: 
Creditor's claim disallowed due to failure to provide copies of note, mortgage and any assignments.
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Consumer case opionion summary, case decided on March 01,2010, LexisNexis #0410-081

Atwater v. Light Korean Presbyterian Church (In re Mak Petroleum Inc.)

Chapter 7 Trustee commenced this adversary proceeding by filing a Complaint to recover a deposit paid by debtor in connection with a Purchase and Sale Agreement. Defendant was a church located in Ontario, Canada. Before the court was the church's motion to dismiss.
Ruling: 
Proceeding to recover transfer from Canadian transferee dismissed for lack of personal jurisdiction.
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Commercial case opionion summary, case decided on February 11,2010, LexisNexis #0710-100

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