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In re Utility Craft Inc.

A debtor filed for relief under chapter 7 of the Bankruptcy Code. A creditor filed a claim and a chapter 7 trustee filed an objection to the claim. The court issued findings of fact and conclusions of law on the claim and the objection.
Ruling: 
Store credit for item purchased from debtor and returned as defective was a general unsecured priority claim.
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Commercial case opionion summary, case decided on December 29,2008, LexisNexis #0209-112

In re Joel F. Hollowell Oil Co.

A debtor filed its petition for relief under chapter 11 of the Bankruptcy Code. The court entered a final order authorizing the debtor's use of cash collateral for its postpetition operating expenses. A company, which had a first lien security interest in all of the debtor's equipment, fixtures, inventory, and accounts receivable, filed a motion to restrict the debtor's continued use of cash collateral, under 11 U.S.C.S. § 363(e).
Ruling: 
Motion to restrict chapter 11 debtor's use of cash collateral denied.
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Commercial case opionion summary, case decided on December 12,2008, LexisNexis #0209-041

In re Price Funeral Home Inc.

A hearing was held to consider the final approval of a chapter 11 debtor's disclosure statement, and to consider confirmation of the debtor's plan of reorganization. A creditor with a lien on the debtor's real property objected to the statement, voted to reject the plan, and objected to confirmation. The debtor sought to have the plan confirmed pursuant to 11 U.S.C.S. § 1129(b) without the creditor's affirmative vote and over its objection.
Ruling: 
Debtor's disclosures approved over creditor's objection.
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Commercial case opionion summary, case decided on December 12,2008, LexisNexis #0209-051

In re Lordship Dev. LLC

A creditor filed a motion for relief from the automatic stay in a debtor's chapter 11 bankruptcy case.
Ruling: 
Section 108(d) did not limit period for debtor to redeem foreclosed property where state law did not provide for fixed deadline.
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Commercial case opionion summary, case decided on September 30,2008, LexisNexis #1208-004

In re Eagle Creek Subdivision LLC

Bankruptcy debtors-in-possession moved pursuant to 11 U.S.C.S. § 364(c)(1) for authorization to continue loan agreements with primary lenders to allow the debtors to complete their real estate development projects. The debtors also moved pursuant to § 364(d) for authorization to obtain postpetition secondary financing to fund operating costs.
Ruling: 
Debtor-in-possession's continuation of primary real estate development financing approved but secondary financing with priming lien disapproved.
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Commercial case opionion summary, case decided on July 10,2008, LexisNexis #1108-004

In re Mid Atl. Retail Group Inc.

A corporate debtor filed a petition under chapter 7 of the Bankruptcy Code, and an interim trustee was appointed to represent the bankruptcy estate. An attorney who represented movants, an ad hoc committee of creditors, called for an election of a permanent trustee, pursuant to 11 U.S.C.S. § 702, and asked the court to resolve a disputed election after the interim trustee received more votes than a limited liability company (LLC).
Ruling: 
LLC was not eligible to serve as chapter 7 trustee.
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Commercial case opionion summary, case decided on June 18,2008, LexisNexis #0708-109

In re Conner Corp.

An amount remained on deposit in the registry of a bankruptcy court which represented distributions which were not claimed by creditors of a bankruptcy debtor, and the debtor moved for return of the unclaimed funds pursuant to 11 U.S.C.S. §§ 347(b), 1143.
Ruling: 
Debtor not entitled to return of unclaimed funds where prior creditor classes had not been paid in full.
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Commercial case opionion summary, case decided on June 11,2008, LexisNexis #0808-030

In re Deluxe Cleaners of Durham Inc.

Plaintiff trustee filed an adversary proceeding against defendant ex-wife under 11 U.S.C.S. § 542(a) for turnover to the debtor's bankruptcy estate of the post-petition settlement of a personal injury claim that was transferred from a joint checking account to the ex-wife. The ex-wife filed a third-party complaint against third-party defendant debtor for the amount of the transferred funds.
Ruling: 
Attorneys' fee application denied where firm rendered prepetition services not demonstrably for debtor's benefit and made firm an interested party ineligible for pospetition representation.
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Commercial case opionion summary, case decided on May 01,2008, LexisNexis #0608-072

In re Westcrowns Inc.

A chapter 7 trustee objected to a creditor's proof of claim for vacation pay as an 11 U.S.C.S. § 507(a) priority claim.
Ruling: 
Proof of claim for vacation pay by debtor's former president allowed over trustee's objections.
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Commercial case opionion summary, case decided on April 28,2008, LexisNexis #0608-135

Angell v. Ray J. Pennington Inc. (In re Partitions Plus of Wilmington Inc.)

Plaintiff chapter 7 Trustee filed an adversary proceeding against defendant creditor seeking to avoid a transfer from the debtor as preferential. The creditor had worked as a subcontractor for the debtor. The creditor asserted, inter alia, that the payments could not be avoided because they were a contemporaneous exchange for new value given to the debtor under 11 U.S.C.S. § 547(c)(1). Both parties filed summary judgment motions.
Ruling: 
Transfer was not avoidable due to applicability of contemporaneous exchange for new value defense.
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Commercial case opionion summary, case decided on March 20,2008, LexisNexis #0808-067

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