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Gilley v. SEC (In re Gilley)

Ruling: 
Disgorgement consent judgment involved violation of securities laws and was nondischargeable.
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Commercial case opionion summary, case decided on August 19,2013, LexisNexis #0913-049

In re New Hope Christian Church

Ruling: 
Good faith attempts by debtor to retain property and effectuate a plan were not cause for dismissal of debtor's second case or relief from stay.
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Commercial case opionion summary, case decided on July 16,2013, LexisNexis #1013-096

In re Quantum Cool LLC

Pursuant to 11 U.S.C.S. § 303(h), a debtor moved to dismiss an involuntary petition filed by petitioning creditors. The debtor also sought an award of reasonable costs and attorney's fees under § 303(i)(1) and punitive damages under § 303(i)(2). Only one petitioning creditor appeared. The issues were limited to whether the debtor's liability to the creditor was subject to a bona fide dispute and whether the petition was filed in bad faith.
Ruling: 
Involuntary petition dismissed due to existence of bona fide dispute as to petitioning creditor's claims.
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Commercial case opionion summary, case decided on July 15,2013, LexisNexis #0813-036

Sea Horse Realty & Constr. Inc. v. CitiMortgage Inc. (In re Sea Horse Realty & Constr. Inc.)

Creditor filed a motion for a stay pending appeal of two orders pursuant to Fed. R. Bankr. P. 8005
Ruling: 
Stay pending appeal granted to prevent distribution of proceeds of sale of property pursuant to deed of trust disputed by debtor.
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Commercial case opionion summary, case decided on June 17,2013, LexisNexis #0713-104

In re Universal Fin. Inc.

Debtor, a licensed consumer finance company, moved to use cash collateral pursuant to 11 U.S.C.S. § 363.
Ruling: 
Motion for use of cash collateral to pay unnecessary preconfirmation unsecured debts denied.
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Commercial case opionion summary, case decided on June 07,2013, LexisNexis #0713-082

In re Renegade Holdings Inc.

Chapter 11 trustee sought confirmation of a second amended and restated joint plan of reorganization for chapter 11 debtors that were fabricators and distributors of tobacco products consisting primarily of cigarettes and cigars. The debtors had not joined a master settlement agreement between major domestic tobacco companies and multiple states and territories and thus operated as non-participating manufacturers.
Ruling: 
Confirmation denied on feasibility grounds due to discrepancy between past and projected performance.
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Commercial case opionion summary, case decided on May 29,2013, LexisNexis #0613-099

Bolton v. Jacobson (In re Province Grande Olde Liberty LLC)

Investors filed a state court action against debtor and others arising from an alleged Ponzi scheme. The investors sought relief from the automatic stay under 11 U.S.C.S. § 362(d)(1) and mandatory abstention and remand to the state court under 28 U.S.C.S. § 1334(c)(2).
Ruling: 
Relief from stay and motion for abstention granted to allow state court to adjudicate action arising out of alleged Ponzi scheme.
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Commercial case opionion summary, case decided on May 17,2013, LexisNexis #0613-078

In re Ecast Corp.

In a bankruptcy case, a creditor filed a motion to compel a cure payment called for under a license agreement executed by the creditor and the debtor. The motion was opposed by the bankruptcy trustee.
Ruling: 
Motion to compel cure payment under license agreement denied as not entitled to priority over other administrative expense claims.
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Commercial case opionion summary, case decided on May 16,2013, LexisNexis #0613-082

Angell v. Meherrin Agric. & Chem. Co. (In re Tanglewood Farms Inc.)

Chapter 7 trustee filed an adversary proceeding against defendant creditor, seeking a determination that he was allowed under 11 U.S.C.S. §§ 544, 547-551, and N.C. Gen. Stat. § 39- 23.1 et seq. to avoid transfers a corporation ("debtor") made to the creditor while the debtor was in chapter 11 bankruptcy. The creditor filed a motion to dismiss.
Ruling: 
Chapter 7 trustee could not avoid preconversion transfers made by debtor while a chapter 11 debtor in possession.
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Commercial case opionion summary, case decided on May 01,2013, LexisNexis #0513-125

In re Bath Bridgewater S. LLC

Pending before the court was the matter taken under advisement in connection with the court's order of September 20, 2012: specifically, whether a certain creditor had a deficiency claim, and if not, whether debtor's plan of reorganization should be confirmed pursuant to 11 U.S.C.S. § 1129(b).
Ruling: 
Confirmation denied due to failure to satisfy fair and equitable test for cram down.
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Commercial case opionion summary, case decided on March 12,2013, LexisNexis #0413-026

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