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New Cases For the Week of June 7 2004 -
June 11, 2004
Brought to you by BKINFORMATION.COM
- The Source for Business Bankruptcy Information on the Internet
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June
11, 2004
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Case
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Court
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Holding
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In
re Lauer
(DBN Subscription Required) |
8th
Cir. |
The
bankruptcy court did not err
in finding that a bank which
made a loan to a partner who
used the proceeds to
facilitate a breach of
fiduciary duty was not liable
for the breach. |
United
States v. Anderson
(DBN Subscription Required) |
9th
Cir. |
In
a bankruptcy fraud case, the
conviction for bank fraud was
reversed because the police
agent did not represent to the
perpetrator that the proceeds
at issue were obtained from a
bank. |
IPSCO
Steel, Inc. v. Blaine
Construction Corporation
(DBN Subscription Required) |
3rd
Cir. |
An
insurer lacked standing to
appeal from a federal district
court order approving two
settlements. The
insurer's interest was too
attenuated to support
standing.
The
standing requirement in
bankruptcy appeals is more
restrictive than the 'case or
controversy' standing
requirement of Article III,
which 'need not be financial
and need only be 'fairly
traceable' to the alleged
illegal action. |
McLaughlin
v. Walnut Properties, Inc.
(DBN Subscription Required) |
Cal.
App. 2d |
Bankruptcy
trustee's rejection of lease
did not terminate lease. |
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June
10, 2004
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Case
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Court
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Holding
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In
re MJK Clearing, Inc.
(DBN Subscription Required) |
8th
Cir. |
A
party seeking to establish a
constructive trust on funds
through tracing using the
lowest intermediate balance
test must apply the test to a
particular ban account rather
than all of the funds in
debtor's possession. |
Penn
West Associates, Inc. v. Cohen
(DBN Subscription Required) |
3rd
Cir. |
A
federal district court order
directing the clerk to close a
case after a settlement was
announced merely made the case
administratively
inactive. Thus, when a
bankruptcy court later ruled
that the settlement was
ineffective, the plaintiff was
entitled to reactivate the
litigation in federal district
court even though three years
had passed and the district
court believed the case was
disposed of. |
In
re New Times Securities
Services, Inc.
(DBN Subscription Required) |
2nd
Cir. |
Individuals
and entities that were
fraudulently induced
purchase shares in bogus
mutual funds had SIPA
"claims for
securities" rather than
"claims for
cash." |
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June
9, 2004
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Case
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Court
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Holding
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Latman
v. Burdette
(DBN Subscription Required) |
9th
Cir. |
Doctrines
of election of remedies and
res judicata do not bar
trustee from seeking both
denial of discharge and
surcharge against a debtor's
"wild card"
exemption. |
In
re Holyoke Nursing Home, Inc.
(DBN Subscription Required) |
1st
Cir. |
Health
Care Financing Administration
deductions from money owed to
a debtor to recover
overpayments are in the nature
of a recoupment rather than a
setoff |
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