|
New Cases For the Week of July 9, 2001 - July
13, 2001
Brought to you by BKINFORMATION.COM
- The Source for Business Bankruptcy Information on the Internet
|
July 12, 2001
|
|
Case
|
Court
|
Holding
|
C.F.
Trust v. Peterson
(DBN Subscription Required) |
4th Cir. |
In
a suit against a guarantor, the trial court did not err in
declining to give res judicata effect to a final report in
bankruptcy in which the holder of the subject debt voluntarily
agreed to reduce the amount it would seek from the bankruptcy
estate of the principal debtor. The concession was made
to avoid litigation with the bankruptcy estate and did not
operate to reduce the amount of the debt or the ability of the
owner of the debt to pursue the guarantor for the full unpaid
amount. |
|
|
|
|
|
|
|
|
July 9, 2001
|
|
Case
|
Court
|
Holding
|
In
re Debby Reynolds Hotel & Casino, Inc.
(Adobe Acrobat Reader plug-in
required to view) |
9th
Cir. |
Under
the Supreme Court's holding in Hartford Underwriters Ins. Co.
v. Union Planters Bank, a third party which might be entitled
to surcharge reimbursement has no standing to challenge a
DIP's surcharge settlement on behalf of another claimant,
since the DIP is the gatekeeper of the surcharge function.
A contractual agreement between a DIP and a
secured creditor (entered into as part of a Court-approved
settlement regarding a single surcharge claim in favor of a
law firm), that no further surcharge claims would be brought
against the secured creditor lacked legal effect. |
|
|
|
|
|