|
New Cases For the Week of December 27, 2004 -
December 31, 2004
Brought to you by BKINFORMATION.COM - The Source for Business Bankruptcy Information on the Internet
Click here to search prior New Opinion summaries.
|
December 30, 2004 |
Case |
Court |
Holding |
In re Home and Hearth Plano Parkway, LP
(DBN Subscription Required) |
Bankr. N.D. Tex. |
When a court grants relief from stay to allow a secured party to foreclose, the amount of the creditor's claim, for the purpose of a credit bid at the foreclosure sale, is calculated pursuant to applicable State law without regard to Bankruptcy Code limitations. Thus, if a creditor bids the full amount of its State law claim at the foreclosure sale, and the claim is allowed in a lesser amount in the bankruptcy, there is no foreclosure "surplus" due to the debtor from the creditor. |
In re Valley Media, Inc.
(DBN Subscription Required) |
Bankr. De. |
The debtor (a seller of music CDs) was not responsible to a State taxing agency for sales tax on account of drop shipments made on behalf of third party retailers to consumers. |
In re Bimber
(DBN Subscription Required) |
Bankr. W.D. Pa. |
A Chapter 7 debtor's failure to disclose the existence of a prepetition surrogate mother contract entitling her to over $20,000 upon the birth of a child did not warrant revocation of discharge or turnover of the funds. Post-petition personal service earnings are not property of the estate in Chapter 7 and the bulk of the services (carrying a baby) were performed post-petition. |
| |
|
|
December 28, 2004 |
Case |
Court |
Holding |
In re At Home Corporation
(DBN Subscription Required) |
9th Cir. |
A bankruptcy court has the equitable authority to authorize retroactive rejection of a lease, effective as of the filing of the rejection motion. |
Fidelity and Deposit Company of Maryland v. Rotec Industries, Inc.
(DBN Subscription Required) |
7th Cir. |
The significance of finding that a rejected contract was comprised of "divisible" parts is that the agreed contract price definitively establishes the debtor's entitlement for the divisible portion of the contract that was fully performed pre-rejection. Divisible contracts are not common. |
| |
|
|
December 27, 2004 |
Case |
Court |
Holding |
In re Eveleth Mines, L.L.C.
(DBN Subscription Required) |
8th Cir. BAP |
Where a bankruptcy court had subject matter jurisdiction to issue a free and clear sale order, it necessarily had jurisdiction to interpret and enforce such order. However, a court may possess jurisdiction while lacking the authority to use it. Jurisdiction is a prerequisite to, not the equivalent of, a court's authority to grant relief. The Tax Injunction Act required the bankruptcy court to abstain from exercising jurisdiction over a dispute between a purchaser from the bankruptcy estate who purchased free and clear from prior tax claims and a State taxing agency asserting such claims. |
In re Crow
(DBN Subscription Required) |
11th Cir. |
The Bankruptcy Code's attempt to abrogate State immunity is ineffective as to actions by a debtor against a State seeking damages under 11 USC 362(h) for violation of the automatic stay. |
| |
|
|
|
|
|
|