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New Cases For the Week of September 29,
2003 - October 3, 2003
Brought to you by BKINFORMATION.COM
- The Source for Business Bankruptcy Information on the Internet
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October
3, 2003
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Case
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Court
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Holding
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In
re 310 Associates
(DBN Subscription Required) |
2d
Cir. |
Fed.
R. Civ. P. 60(b)(1) authorizes a district
court to relieve a party from the effects
of a judgment based on the court's own
mistake of fact. The court's mistake
about the existence of multiple
already-engaged buyers justified
modification of a prior order authorizing
a break-up fee. |
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October
2, 2003
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Case
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Court
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Holding
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In
re Mirant Corp.
(DBN Subscription Required) |
Bankr.
N.D. Tex. |
Bankruptcy
court can enjoin federal government agency
from taking action otherwise permitted by
exception to automatic stay. |
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October
1, 2003
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Case
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Court
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Holding
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In
re Great Northern Papaer, Inc.
(DBN Subscription Required) |
D.
ME |
A
Chapter 7 trustee is not entitled to
substitute himself in as the
postconversion appellant in an appeal
filed by the official unsecured creditors
committee. |
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September
30, 2003
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Case
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Court
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Holding
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In
re UAL Corp.
(DBN Subscription Required) |
Bankr.
Ill. |
An
election under 11 USC 1110 to continue
performing an aircraft lease creates an
administrative liability for cure payments
and for future payments due under the
lease. The obligation arises regardless of
whether the debtor effects a cure after
making the election (i.e. failure to cure
does not void a 1110 election).
The court
vacates the debtor's 1110 election
however, based upon the debtor's excusable
neglect in assuming that no cure was due
on account of the subject aircraft. |
In
re Incomnet, Inc.
(DBN Subscription Required) |
9th
Cir. BAP |
The
bankruptcy court erred in finding that a
recipient of funds from the debtor during
the preference period was not a
"transferee" under the
"conduit" theory. The
recipient, a highly-regulated entity,
received the funds in its own bank
account. |
In
re Kelley
(DBN Subscription Required) |
9th
Cir. BAP |
Although
a debtor's declared homestead remained
effective after he moved away from the
property, in the context of bankruptcy the
exemption was of no aid to the debtor,
since a declared homestead in which a
debtor does not live is not protected from
forced sale. |
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September
29, 2003
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Case
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Court
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Holding
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In
re Cambridge Industries Holdings, Inc.
(DBN Subscription Required) |
Bankr.
DE |
11
USC 502(d) prevents prosecution of a
preference action against a creditor whose
claim has been objected to and allowed. |
In
re Lopez
(DBN Subscription Required) |
9th
Cir. |
McClellan
Fed. Credit Union v. Parker (In re
Parker), 139 F.3d 668 (9th Cir. 1998),
which allows a consumer debtor to file a
statement of intention and keep
collateral without reaffirming, remains
good law. |
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