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In re Deluxe Cleaners of Durham Inc.

This matter came before the court upon the Motion for Stay Pending Appeal filed by the chapter 7 trustee (the moving trustee) for the bankruptcy estate of two debtors that had a bankruptcy pending in the U.S. Bankruptcy Court for the Eastern District of North Carolina. The moving trustee sought to stay an order that allocated 100 percent of state court judgment proceeds to the estate of debtor in the instant bankruptcy.
Ruling: 
Stay pending appeal of order allocating state court judgment proceeds to estate denied absent showing of harm.
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Commercial case opionion summary, case decided on November 17,2010, LexisNexis #1210-139

In re South Bay Props. LLC

Debtor, a North Carolina limited liability company, filed a petition under Chapter 11 of the Bankruptcy Code, and movant creditor filed a motion to dismiss the debtor's case, pursuant to 11 U.S.C.S. § 1112(b), contending that the case was filed in bad faith. A corporation that sold land to the debtor filed a response in support of the creditor's motion. The debtor opposed the motion.
Ruling: 
Bad faith dismissed denied as premature when it was not yet clear if debtor could file a confirmable plan.
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Commercial case opionion summary, case decided on November 10,2010, LexisNexis #1210-058

In re LOG LLC

A Chapter 11 debtor filed an amended emergency motion seeking an ex parte order requiring a creditor to show cause why the automatic stay provided by 11 U.S.C.S. § 362(a)(1) or (a)(6) was not violated and why the creditor should not be held in contempt of court. The motion also requested injunctive relief and an award of damages.
Ruling: 
Foreclosure against property of member of LLC who guaranteed debt did not violate stay.
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Commercial case opionion summary, case decided on November 09,2010, LexisNexis #1210-041

In re Northern Outer Banks Assocs. LLC

Debtor, a North Carolina limited liability company, filed a petition under Chapter 11 of the Bankruptcy Code, and a bank filed a motion for relief from the stay that was imposed pursuant to 11 U.S.C.S. § 362 when the debtor declared bankruptcy or, in the alternative, for adequate protection. The debtor opposed the bank's motion.
Ruling: 
Relief from stay granted in single asset real estate case where debtor had not filed plan or commenced interest payments.
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Commercial case opionion summary, case decided on November 08,2010, LexisNexis #1210-042

In re Northern Outer Banks Assocs. LLC

Debtor, a North Carolina limited liability company, filed a petition under Chapter 11 of the Bankruptcy Code and proposed a plan for repaying debts it owed to its creditors. A bank that held a secured interest in the only asset the debtor owned--approximately 5.35 acres of undeveloped land located in Southern Shores, North Carolina--filed an objection to the debtor's plan.
Ruling: 
Plan allowing debtor to retain sole asset for 18 months and require secured lender to accept lower rate of interest was not fair and equitable and not confirmable.
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Commercial case opionion summary, case decided on November 08,2010, LexisNexis #1210-060

In re 3G Props. LLC

In a chapter 11 case, a bank filed a motion for relief from the automatic stay under 11 U.S.C.S. § 362(d). It argued that there was lack of adequate protection and that the property was not necessary for an effective reorganization.
Ruling: 
Bank's motion for relief from stay denied where subject property was necessary for effective reorganization and would likely maintain value.
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Commercial case opionion summary, case decided on November 05,2010, LexisNexis #0111-042

In re CCWP LLC

Chapter 11 debtor sought an order authorizing it to use cash collateral and to provide adequate protection to the lender.
Ruling: 
Debtor authorized to use cash collateral for interim period solely to fund ordinary and necessary costs of operating and maintaining business.
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Commercial case opionion summary, case decided on October 27,2010, LexisNexis #0111-111

In re FFG 1 LLC

Before the court was a proposed interim order authorizing the debtor to use cash collateral and provide adequate protection for the period November 1 through 30, 2010. The creditor, to whom the debtor was indebted pre-petition, was willing to do so only upon the terms and conditions expressly contained therein. Debtor's principals had personally guaranteed the indebtedness.
Ruling: 
Debtor authorized to use cash collateral where creditor prepetition creditor was granted security interest that would not be subordinated.
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Commercial case opionion summary, case decided on October 25,2010, LexisNexis #0111-115

Arcadia Group LLC v. Arcadius Investors LLC (In re Arcadia Dev. LLC)

A chapter 11 debtor's membership consisted of two entities. Prior to the filing of a petition, those entities were on opposite sides of state court litigation, which was removed to this court. Plaintiff, one of the entities, for itself and derivatively on behalf of the debtor and others, filed a motion to remand and abstain. Defendant, the other entity, for itself and derivatively on behalf of the debtor and others, moved to retain jurisdiction.
Ruling: 
Bankruptcy court exercised permissive abstention and remanded sate law case related to debtor's bankruptcy.
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Commercial case opionion summary, case decided on June 09,2010, LexisNexis #0810-101

In re Dean Hardwoods Inc.

This case was before the court on debtor's motion to modify its chapter 11 plan. Two creditors opposed the motion.
Ruling: 
Motion to modify plan denied as to creditor for whom it was not fair and equitable.
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Commercial case opionion summary, case decided on June 08,2010, LexisNexis #0810-132

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