§ 542(b)

Islamic Bank

Ruling: 
Official committee of unsecured creditors was entitled to turnover of funds that debtorinvested with foreign banks that were not entitled to setoff of those funds against debts owedto them by debtor. (Bankr. S.D.N.Y.)
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Commercial case opionion summary, case decided on April 23,2021, LexisNexis #0621-014

Cossio, In re

Ruling: 
Chapter 7 trustee entitled to monies owed to debtor from divorce judgment, which wereproperty of the estate. (Bankr. D.P.R.)
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Court: Judge or Jurisdiction information not available
Consumer case opionion summary, case decided on August 16,2019, LexisNexis #1019-039

Blast Fitness Grp., LLC, In re--Cruickshank v. Dixon

Ruling: 
Claim for fees under a management agreement was matured and fixed as of the bankruptcyfiling date and not contingent or payable upon the occurrence of a certain future act or event.(Bankr. D. Mass.)
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Commercial case opionion summary, case decided on May 24,2019, LexisNexis #0819-010

Morgan, In re--Morgan v. Preferred Fin. Grp., Inc.

Ruling: 
Debtors' turnover claim for relief was dismissed as whatever the creditor owed to the debtorswas not property of the bankruptcy estate. (Bankr. N.D. Cal.)
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Consumer case opionion summary, case decided on February 06,2018, LexisNexis #0318-074

Anstine v. Peak Rehab. of Denver LLC (In re Smith)

Chapter 7 trustee filed a complaint against defendants for turnover of estate property pursuant to 11 U.S.C.S. § 542(b).
Ruling: 
Members of LLC ordered to turn over balance due on note to debtor, former member, regardless of whether non-disparagement clause was violated.
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Consumer case opionion summary, case decided on June 22,2011, LexisNexis #0811-020

Butler v. Deutsche Rentenversicherung (In re Butler)

In a contested matter, debtor, the owner of a personal checking account at respondent bank, which account had been attached by an entity believed to be a foreign governmental agency, moved for an order releasing the funds. Though debtor and counsel for the chapter 13 trustee appeared and made representations relative to the position of the bank, neither the bank nor the foreign governmental agency appeared.
Ruling: 
Bank account subject to attachment by foreign entity was property of the estate and ordered paid into court registry.
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Consumer case opionion summary, case decided on May 28,2010, LexisNexis #0910-053

Phoenix Turf Farms LLC v. Hansen Mueller Co. (In re Phoenix Turf Farms LLC)

Plaintiff, a chapter 12 debtor in possession, brought an action to recover funds owed to the estate pursuant to 11 U.S.C.S. § 542(b), against defendant, the stakeholder of proceeds from a sale of wheat. The stakeholder filed a motion for interpleader, and joined several additional parties who had made claims to the proceeds. The stakeholder moved for summary judgment, and its attorney's fees with respect to the complaint.
Ruling: 
Stakeholder's motion for interpleader in response to debtor's attempt to recover funds granted.
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Commercial case opionion summary, case decided on October 15,2009, LexisNexis #1209-050

Richardson v. Terry Bullock Garages Inc. (In re Bullock Garages)

Plaintiff bankruptcy trustee brought an adversary proceeding against defendant dealer of prefabricated garages, seeking to recover from the dealer unpaid invoices due to the debtor for garage kits which the debtor manufactured. The bankruptcy court conducted a trial.
Ruling: 
Trustee sufficiently showed that the accounts receivable in question were property of the debtor's bankruptcy estate subject to the dealer obtaining credits for garage kits that the dealer ordered from the debtor but never picked up from the debtor.
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