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New Cases For the Week of December 3, 2001 -
December 7, 2001
Brought to you by BKINFORMATION.COM
- The Source for Business Bankruptcy Information on the Internet
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December 7, 2001
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Case
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Court
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Holding
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Binswanger
v. Merry-Go_Round
(DBN Subscription Required)
(unpublished, per curiam) |
4th Cir. |
A
broker who had preliminary negotiations for a listing with a
Chapter 11 debtor, and who voluntarily showed the subject
property to a prospective buyer prior to executing a listing
agreement, was not entitled to a commission when the case was
converted to Chapter 7, the trustee declined to sign a listing
agreement with the broker and entertained offers from the
buyer to whom the broker had shown the property. |
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December 6, 2001
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Case
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Court
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Holding
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Circle
K Corp. v. Houlihan, Lokey, Howard & Zukin
(DBN Subscription Required) |
9th Cir. |
Section
328(a) permits a professional to have the terms and conditions
of its employment pre-approved by the bankruptcy court, such
that the bankruptcy court may alter the agreed-upon
compensation only "if such terms and conditions prove to
have been improvident in light of developments not capable of
being anticipated at the time of the fixing of such terms and
conditions. However, unless a professional's retention
application unambiguously specifies that it seeks approval
under§ 328, it is subject to review under § 330. As a matter
of good practice, the bankruptcy court's retention order
should likewise specifically confirm that the retention has
been approved pursuant to § 328 so as to avoid any ambiguity.
The absence of such a specific reference in the bankruptcy
court's order, however, would not of itself automatically
override the retention application's invocation of § 328. |
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December 4, 2001
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Case
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Court
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Holding
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Florida
Dept. Of Insurance v. Chase Bank of Texas
(DBN Subscription Required) |
5th Cir. |
The
Florida Department of Insurance, as a trustee in bankruptcy,
does not have standing to bring claims against a third party
on behalf of creditors of the insolvent corporation |
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December 3, 2001
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Case
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Court
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Holding
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In
re Weinstein
(DBN Subscription Required) |
1st Cir. |
Interest
on post-petition taxes owed by the estate is a first-priority
administrative expense, rather than a fifth priority expense. |
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