New Cases For the Week of December 10, 2007 - December 14, 2007

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December 14, 2007

Case

Court

Holding

In re Wagers
(DBN Subscription Required)
10th Cir. In an appeal arises out of an adversary proceeding brought by a bankruptcy trustee against the bankruptcy debtors and a law firm representing them, a Bankruptcy Appellate Panel decision reversing a ruling in favor of the law firm is affirmed for the reasons stated by the BAP where: 1) funds held by the firm as a retainer for post-petition legal services were estate property; and 2) estate property could not be used to compensate the firm for post-petition legal services.
     

December 12, 2007

Case

Court

Holding

In re Khalil
(DBN Subscription Required)
9th Cir. BAP Evidence of reckless indifference to schedule accuracy may be probative of intent even though reckless indifference alone does not suffice to establish the requisite intent.
In re Urban Communicators PCS Limited Partnership
(DBN Subscription Required)
Bankr. SDNY Although an oversecured creditor had a contractual entitlement to default interest and compound interest (which, combined, resulted in an effective interest rate of 38%), usury limitations, and equity considerations limited the creditor's interest entitlement to 25%.
     

December 11, 2007

Case

Court

Holding

Hale v. US Trustee
(DBN Subscription Required)
9th Cir. In an appeal brought by an attorney, arising after a bankruptcy court found he failed to honor his legal and ethical obligations in assisting certain debtors' with their bankruptcy application, an order denying his request for a jury trial on the reasonableness of his attorney fees, disgorging him of his fees, and sanctioning him is affirmed where: 1) the Seventh Amendment does not include a right to a jury trial on the reasonableness of attorney fees in bankruptcy proceedings; and 2) the bankruptcy court did not abuse its discretion in disgorging him of his attorney's fees nor in sanctioning him.
     

December 10, 2007

Case

Court

Holding

In re WorldCom, Inc.
(DBN Subscription Required)
Bankr. SDNY Where a bankruptcy court had previously adjudicated a creditor's proof of claim, the filing of the claim nevertheless eliminated the creditor's right to a jury trial on the debtor's affirmative claim for relief where the debtor's claim arose from the same set of operative facts as the proof of claim.
     

 

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