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New Cases For the Week of September 2,
2003 - September 5, 2003
Brought to you by BKINFORMATION.COM
- The Source for Business Bankruptcy Information on the Internet
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September
5, 2003
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Case
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Court
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Holding
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In
re Dial Business Forms, Inc.
(DBN Subscription Required) |
8th
Cir. |
Where
a secured creditor allowed its financing
statement to lapse following confirmation
of a plan which granted unsecured
creditors a subordinated lien to secure
their claims, the secured creditor did not
lose its priority, since the confirmed
plan (which had been accepted by a vote of
unsecured creditors) served as a
contractual subordination agreement. |
HA-LO
Industries, Inc. v. CenterPoint Properties
Trust
(DBN Subscription Required) |
7th
Cir. |
§
365(d)(3) of the Bankruptcy Code requires
a debtor in possession that has elected to
reject a nonresidential real property
lease to pay the monthly rent due under
that lease as it becomes due, even though
this may result in the advance payment of
rent that covers a period of time after
the debtor's rejection of the lease takes
effect. |
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September
3, 2003
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Case
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Court
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Holding
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In
re Martin
(DBN Subscription Required) |
8th
Cir. BAP |
The
bankruptcy court did not err in denying
Minnesota debtors' exemption claim
for a $29,000 annuity. The assets
used to purchase it did not derive
directly from the debtor's employment, and
could not be traced to the ongoing
generation of income. The exemption
only applies to assets that resulted from
a debtor's decision to defer the enjoyment
of earned income, whether that income be
from self employment or from third-party
employment |
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September
2, 2003
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Case
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Court
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Holding
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In
re Hurtado
(DBN Subscription Required) |
6th
Cir. |
A
relative who held debtors' funds in a
segregated bank account prepetition, and
only distributed the funds according to
the desires of the debtors was not a
"mere conduit", but was an
initial transferee of the funds. |
In
re Flynn
(DBN Subscription Required) |
9th
Cir. BAP |
The
court did not err in ordering a co-owner
to pay, as "costs of sale"
pursuant to § 363(j), a pro-rata share of
the trustee's attorneys' fees incurred
defending title and selling co-owned
property under § 363(h). |
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