§ 541(d)

LaForce, In re

Ruling: 
Spouse's equitable interest in marital property was not property of debtor's bankruptcy estate as the marital property was held in constructive trust for the spouse's benefit. (Bankr. S.D. Ala.)
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Consumer case opionion summary, case decided on September 06,2017, LexisNexis #1017-045

Rhodes v. Florida Metal Trading Inc. (In re Hayes Iron & Metal Inc.)

Ruling: 
Section 541(d) did not trump trustee's rights and powers.
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Commercial case opionion summary, case decided on May 22,2014, LexisNexis #0614-091

In re Sanchez-Villalba

This cause came before the court for hearing upon the trustee's objection to confirmation of debtor's plan, based on the assertion that debtor owned 1/4 of certain real properties and therefore the value of 1/4 of the properties should be included in debtor's estate under 11 U.S.C.S. § 541.
Ruling: 
Plan ordered amended to include one quarter equity interest in property held by debtor.
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Consumer case opionion summary, case decided on February 23,2012, LexisNexis #0312-130

In re Herlan

Movant principal sought an immediate turnover of vacation home management contracts that were in the possession of a chapter 11 debtor under 11 U.S.C.S. § 541(d) on the grounds that the principal was the equitable owner of those contracts. The court granted the oral motion of the principal to add a realty company as a moving party in its motion for turnover.
Ruling: 
Debtor real estate agent ordered to turn over vacation home management contracts to resort.
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Consumer case opionion summary, case decided on January 06,2010, LexisNexis #0210-014

Millard Refrigerator Servs. v. LandAmerica 1031 Exch. Servs. (In re LandAmerica Fin. Group Inc.)

Former customer filed an adversary proceeding against chapter 11 debtors, a financial group and its subsidiary, seeking a judgment that money it deposited in bank accounts the subsidiary opened was held in trust for its benefit and should be returned to it. Official groups of unsecured creditors intervened in the action, and the customer and the groups of unsecured creditors filed cross-motions for partial summary judgment.
Ruling: 
Money deposited by customer in bank account of debtor's subsidiary was property of the estate absent express trust.
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Commercial case opionion summary, case decided on April 15,2009, LexisNexis #0609-086

Great Am. Ins. Co. v. Bally Total Fitness of Greater N.Y. (In re Bally Total Fitness of Greater N.Y.)

Insurer filed a complaint against debtor seeking a declaratory judgment that funds advanced by the insurer to the debtor under various directors' and officers' liability insurance policies and an interim fee agreement were not property of the bankruptcy estate under 11 U.S.C.S. § 541. The debtor moved to dismiss.
Ruling: 
Funds advanced by insurance company with directors' and officers' policies were property of the estate where there was no implied trust created.
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Commercial case opionion summary, case decided on March 27,2009, LexisNexis #0509-119

In re Mullennix

Movant chapter 7 trustee sought to compel turnover of insurance proceeds related to an automobile from respondent debtor.
Ruling: 
Motion to compel turnover of insurance proceeds was denied since they were deemed not part of estate.
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Cage v. Wyo-Ben Inc. (In re Ramba Inc.)

Two months before bankruptcy, a buyer received the debtor's assets free of liens, paid off the debtor's under secured lender, and paid the rest of the consideration to 10 defendant unsecured creditors. The debtor paid an 11th defendant unsecured creditor. The district court entered summary judgment against plaintiff trustee on an 11 U.S.C. § 547(b) preference action. The trustee appealed.
Ruling: 
Sale of debtor's assets was not an avoidable transfer since property for which the debtor had no equitable interest is not estate property.
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