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New Cases For the Week of August 27, 2001 - August
31, 2001
Brought to you by BKINFORMATION.COM
- The Source for Business Bankruptcy Information on the Internet
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August 31, 2001
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Case
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Court
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Holding
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Pioneer
Liquidating Corp. v. UST
(DBN Subscription Required) |
9th Cir. |
Although
as a general matter a Ch. 11 estate's assets revest in the
debtor upon confirmation of a plan, such revesting can be
limited by the terms of the plan. Where the plan provided for
the formation of a liquidating entity for the benefit of
creditors, and such entity was subject to continuing court
supervision, the assets of the Ch. 11 estate were not
statutorily divested by confirmation. Consequently, conversion
of the case to Ch. 7 would not be moot or ineffective, since
assets remained for administration. |
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August 30, 2001
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Case
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Court
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Holding
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FDIC
v. County of Orange
(DBN Subscription Required) |
9th Cir. |
Although
the property of the FDIC, as receiver, is not subject to
attachment of involuntary liens, the FDIC is liable for
payment of such liens which have attached prior to the
receivership. However, the FDIC is not liable for
payment of penalties not secured by liens. |
In
re Vortex Fishing Systems, Inc.
(DBN Subscription Required) |
9th Cir. |
The
test for determining whether a debt is subject to "bona
fide dispute" for purposes of participating in an
involuntary bankruptcy filing is an objective test,
specifically "whether there is an objective basis for
either a factual or a legal dispute as to the validity of the
debt." |
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August 28, 2001
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Case
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Court
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Holding
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In
re Eron (unpublished)
(DBN Subscription Required) |
4th Cir. |
Debtors'
confirmed Chapter 13 plan was not entitled to res judicata
effect as to the plan's treatment of a Closed-End with
Guaranteed Fixed Price Purchase Option auto lease because the
Debtors' plan did not clearly and accurately characterize the
creditor's claim throughout the plan. |
US
v. Hansen
(DBN Subscription Required) |
11th
Cir. |
Although
the ability to act to remediate environmental violations is
constrained by the Bankruptcy Code and court orders, a DIP
officer may nevertheless be convicted of failing to remediate
an environmental violation. |
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