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In re Information Network

Before the Court was the First and Final Application for Allowance of Fees and Reimbursement of Expenses to Special Counsel for Trustee (the Fee Application) and the objections thereto.
Ruling: 
Attorneys' fees denied to the extent services rendered did not benefit estate.
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Commercial case opionion summary, case decided on December 21,2011, LexisNexis #0212-039

Behrmann v. Natl Heritage Found. Inc.

A bankruptcy court approved release provisions as to appellee debtor's officers and directors and confirmed a chapter 11 Plan. The U.S. District Court for the Eastern District of Virginia affirmed. Appellant creditors were denied stays and appealed, arguing the Plan was not proposed in good faith as required by 11 U.S.C.S. § 1129(a)(3), and 11 U.S.C.S. § 524(e), as to discharges for third parties foreclosed approval of the release provisions.
Ruling: 
Affirmation of plan confirmation vacated due to third party release provisions absent supporting factual findings by bankruptcy court.
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Commercial case opionion summary, case decided on December 09,2011, LexisNexis #0112-029

In re Lewis Road LLC

Chapter 11 trustee sought relief per Fed. R. Civ. P. 60(b) and Fed. R. Bankr. P. 9024 from an earlier order approving a settlement among debtor, a debtor in possession (DIP), and other parties including Creditors 1 and 2 to the extent that it paid legal fees for Creditor 2's representation by a firm. Issues included whether the firm violated 11 U.S.C.S. § 327 and Fed. R. Bankr. P. 2014 in connection with its participation in the case.
Ruling: 
Settlement order vacated to the extent covering attorneys' fees for undisclosed dual representation of debtor in possession and creditor.
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Commercial case opionion summary, case decided on December 09,2011, LexisNexis #0112-038

In re Sea Trail Corp.

A corporate bankruptcy debtor asserted that its longtime counsel properly represented the debtor in prior matters involving corporate, employee, labor, and other general business matters pertaining to the daily operation of the debtor. The debtor moved for approval to employ counsel as special counsel to the debtor pursuant to 11 U.S.C.S. § 327(e).
Ruling: 
Application to employ debtor's long-time general counsel denied absent specified special purpose.
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Commercial case opionion summary, case decided on December 09,2011, LexisNexis #0112-039

In re 4.98 Westgate Partners LLC

A chapter 11 debtor, which was a single asset entity, filed a motion to value collateral and a creditor filed a motion for relief from the automatic stay or, in the alternative, for adequate protection.
Ruling: 
Relief from stay denied where creditor was adequately protected.
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Commercial case opionion summary, case decided on December 07,2011, LexisNexis #0112-076

In re Light Foot Group LLC

This case filed under chapter 11 was before the court on the Joint Motion of two banks for a declaration that debtor was a single asset real estate entity subject to 11 U.S.C.S. § 362(d)(3). Debtor opposed the Motion, and at the conclusion of a hearing, at which debtor's manager testified, the court reserved decision.
Ruling: 
Debtor's five tracts of land constituted single asset real estate entitling creditor to relief from stay.
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Commercial case opionion summary, case decided on November 10,2011, LexisNexis #1211-076

Fort v. SunTrust Bank (In re International Payment Group Inc.)

Chapter 7 trustee filed an adversary proceeding against defendant bank, claiming, inter alia, that the bank committed breach of contract, breach of fiduciary duty, and tortious interference with contractual relations, and violated the South Carolina Unfair Trade Practices Act, S.C. Code Ann. § 39-5-10 et seq., and the South Carolina Uniform Commercial Code, S.C. Code Ann. § 36-4A- 102 et seq. The bank filed a motion to dismiss.
Ruling: 
Bank ordered to file motion for withdrawal of reference of trustee's contract claims or be deemed to consent to jurisdiction of bankruptcy court.
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Commercial case opionion summary, case decided on November 03,2011, LexisNexis #1211-061

In re Zephyr Land Holdings LLC

The court held hearings on the confirmation of the debtor's chapter 11 plan. A creditor objected to the confirmation, in part because the debtor did not have a qualifying accepting impaired class to proceed to cram down under 11 U.S.C.S. § 1129(b).
Ruling: 
Confirmation denied due to lack of qualifying accepting impaired class for cramdown.
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Commercial case opionion summary, case decided on November 03,2011, LexisNexis #0112-060

In re Qimonda AG

The representative of a debtor in a foreign insolvency proceeding moved to eliminate or restrict the applicability of bankruptcy law to allow the representative to terminate U.S. licenses to use the debtor's patents under foreign law. Upon remand from the U.S. District Court for the Eastern District of Virginia, the bankruptcy court considered whether the right to retain the licenses under bankruptcy law should apply under 11 U.S.C.S. § 1506.
Ruling: 
Debtor in foreign proceeding could not terminate U.S. patent licenses.
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Commercial case opionion summary, case decided on October 28,2011, LexisNexis #1111-135

In re Hendrix-Barnhill Co.

In a chapter 11 case, the bankruptcy administrator, a bank, and several other creditors objected to the debtor's plan and disclosure statement. The court held a hearing on the issue.
Ruling: 
Confirmation denied as plan was not fair and equitable to creditor bank.
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Commercial case opionion summary, case decided on October 27,2011, LexisNexis #0112-061

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