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In re Wynne Residential Asset Mgmt. LLC

A chapter 7 debtor filed an application and amended application for compensation to a law firm and an attorney (the applicants) for fees and expenses incurred while representing the debtor in possession (DIP) during the chapter 11 phase of the bankruptcy estate. A bankruptcy administrator objected, arguing that the applicants were not "disinterested persons" as defined in 11 U.S.C.S. § 101(14) and as required by 11 U.S.C.S. § 327.
Ruling: 
Fees of counsel to debtor in possession reduced by half due to representation of debtor's principal and other insiders.
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Commercial case opionion summary, case decided on December 18,2009, LexisNexis #0210-036

Century Forest Prods. V. H.W. Indus. (In re Century Forest Prods.)

Plaintiff, a chapter 11 corporate debtor, filed an adversary proceeding against defendant, a Florida corporation, claiming that it was entitled to recover a prepetition account receivable from the Florida corporation in the amount of $ 3,593. The Florida corporation was served at its address in Florida, but did not file an answer or other responsive pleading. The debtor filed a motion for entry of default and default judgment.
Ruling: 
Bankruptcy court abstained from hearing state law collection proceeding.
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Commercial case opionion summary, case decided on December 15,2009, LexisNexis #0410-136

In re Fountain Powerboat Indus.

The major creditor of bankruptcy debtors was the successful bidder at an auction sale of substantially all of the debtors' assets, but the debtors obtained approval for postpetition financing and filed a plan of reorganization. After the bankruptcy court declined to approve the auction sale, the creditor moved to terminate the exclusivity periods of 11 U.S.C.S. § 1121 for the debtors to file a plan and solicit acceptances.
Ruling: 
Creditor's motion to terminate exclusivity period denied absent showing of cause.
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Commercial case opionion summary, case decided on December 04,2009, LexisNexis #0110-061

In re Highway 751 Partners LLC

Before the court was the motion filed by a bank (deed of trust holder) for a determination that real property was not property of debtor's estate, and alternative motion for relief from the automatic stay.
Ruling: 
Real property remained property of the estate where debtor filed petition before state court set new parameters of sale.
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Commercial case opionion summary, case decided on December 03,2009, LexisNexis #0110-086

In re Fitness Mgmt. Group

The State of North Carolina brought an action in a State court against a bankruptcy debtor alleging that the debtor committed unfair and deceptive trade practices by failing to maintain adequate bonds for its health clubs. The State moved for a declaration of exemption from the automatic stay under 11 U.S.C.S. § 362(b)(4) based on the State's exercise of its police and regulatory powers.
Ruling: 
State enforcement of health club bond requirements against debtor was subject to police and regulatory power exception from stay.
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Commercial case opionion summary, case decided on November 23,2009, LexisNexis #1209-112

Allman v. Wappler (In re Cansorb Indus. Corp.)

Plaintiff bankruptcy trustee brought an adversary proceeding against defendants, a foreign individual and foreign entities controlled by the individual, including an entity which owned an involuntary bankruptcy debtor, alleging that the defendants engaged in transactions which resulted in an improper foreclosure of the debtor's real property. The trustee and the defendants cross-moved for partial summary judgment.
Ruling: 
Factual issues prevented summary judgment regarding allegedly improper foreclosure.
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Commercial case opionion summary, case decided on November 20,2009, LexisNexis #1209-129

Anderson Homes Inc. v. Stock Bldg. Supply Inc. (In re Anderson Homes Inc.)

Plaintiff bankruptcy debtors brought an adversary proceeding against defendant creditor seeking to avoid certain transfers and obligations, and the proceeding was stayed by the creditor's initiation of bankruptcy proceedings in another forum. After confirmation of the creditor's reorganization plan, the creditor moved to dismiss the debtors' avoidance actions on the ground that they were discharged in the creditor's bankruptcy.
Ruling: 
Claims in avoidance proceeding against creditor were not discharged in creditor's bankruptcy.
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Commercial case opionion summary, case decided on November 19,2009, LexisNexis #1209-123

In re RFS Ecusta Inc.

Upon consideration of both the fifth interim fee application and the final application for confirmation and approval of all fees and expenses allowed in a substantively consolidated bankruptcy case, applicant, the law firm for the bankruptcy trustee, sought an interim payment of compensation and reimbursement for expenses advanced for the fifth interim period and final confirmation and approval of all fees and expenses in the cases.
Ruling: 
Interim application for fees and costs incurred in legal representation of trustee approved as reasonable.
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Commercial case opionion summary, case decided on October 21,2009, LexisNexis #1209-067

United States Fire Ins. Co. v. Weishorn

Appellant insurer challenged the bankruptcy court's ruling that the insurer did not have standing to contest appellee worker's motion to lift stay, and the court's order lifting stay and modifying the injunction that was barring the worker's separate superior court claim.
Ruling: 
Insurer of debtor's subcontractor did not have standing to contest motion to lift stay for action based on worker's injuries.
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Commercial case opionion summary, case decided on October 14,2009, LexisNexis #1209-013

In re Shearin Family Invs. LLC

The chapter 11 debtor, a condominium developer, and creditor purchasers filed cross-motions for summary judgment regarding claims filed by the purchasers representing their contracts with the debtor for purchase of condominium units.
Ruling: 
Creditors entitled to specific performance of condominium sale agreement with debtor.
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Commercial case opionion summary, case decided on October 13,2009, LexisNexis #1109-036

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