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New Cases For the Week of August 26, 2002
- August 30, 2002
Brought to you by BKINFORMATION.COM
- The Source for Business Bankruptcy Information on the Internet
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August
30, 2002
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Case
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Court
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Holding
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In
re Pacific West Communications
Group, Inc.
(DBN Subscription Required) |
9th
Cir. |
Under
the California UCC (prior to a
change made in July 1, 2001),
a creditor with a security
interest in another’s
personal property, including
general intangibles, and all
proceeds thereof, could not
attach its interest to the
proceeds of a commercial tort
claim, |
In
re Brown
(DBN Subscription Required) |
11th
Cir. |
A
self-settled spendthrift
trust, created by the debtor
prior to he insolvency, was
not exempt from the debtor's
bankruptcy estate, since
applicable State law prohibits
an anti-alienation clause in a
self-settled trust.
However, because the debtor
had reserved to herself only a
7% income interest in the
trust, that interest was the
only value of the trust
accessible by the bankruptcy
estate. The corpus
(which was not available to
the debtor) could not be
reached by creditors. |
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August
27, 2002
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Case
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Court
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Holding
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Nelson
v. La Crosse County Dist.
Attorney
(DBN Subscription Required) |
7th
Cir. |
The
State enjoyed sovereign
immunity from a bankruptcy
court adversary proceeding
under 11 USC 524 based upon a
criminal prosecution alleged
to be an effort to collect a
discharged debt under the
guise of restitution. |
In
re Till
(DBN Subscription Required) |
7th
Cir. |
The
appropriate cramdown rate of
interest in Chapter 13 is the
rate that the creditor in
question would obtain in
making a new loan in the same
industry to a debtor who is
similarly situated. In
the absence of a stipulation
regarding the creditor's
current rate for a loan of
similar character, amount and
duration, it is appropriate
for bankruptcy courts to
accept a plan utilizing the
contract rate if the creditor
fails to come forward with
persuasive evidence that its
current rate is in excess of
the contract rate. Conversely,
utilizing the same rebuttable
presumption approach, if a
debtor proposes a plan with a
rate less than the contract
rate, the debtor needs to come
forward with some evidence
that the creditor's current
rate is less than the contract
rate. |
In
re LPM Corp.
(DBN Subscription Required) |
9th
Cir. |
Rent
claims under § 365(d)(3) do
not have superpriority over
chapter 7 administrative
claims |
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August
26, 2002
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Case
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Court
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Holding
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In
re El Paso Refinery
(DBN Subscription Required) |
5th
Cir. |
Where
a company which had not filed
a proof of claim was
potentially liable to a debtor
for indemnity for
environmental remediation
costs, the bankruptcy court
had related to jurisdiction to
adjudicate disputes regarding
allocation of remediation
costs |
In
re TransTexas Gas Corp.
(DBN Subscription Required) |
5th
Cir. |
When
an appeal of a bankruptcy
court's confirmation order had
divested the court of
jurisdiction, the court lacked
jurisdiction to enter a
"supplemental" order
regarding the order on appeal. |
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