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New Cases For the Week of September 17, 2007 - September 21, 2007
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Click here to search prior New Opinion summaries.
September 21, 2007 |
Case |
Court |
Holding |
In re Colon
(DBN Subscription Required) |
10th Cir. |
The bankruptcy court did not err in finding that where a mortgage company recorded a mortgage whose legal description referenced "Lot 29" rather than "Lot 79" the mortgage lien was avoidable. |
In re 14605, Inc.
(DBN Subscription Required) |
Bankr. DE |
Professional fees of Committee counsel incurred in investigating and challenging the claims of the Debtor's secured lender were not excessive even though the lender ultimately allowed unsecured creditors to receive a substantial recovery. The lender did not communicate this to Committee counsel until late in the case, and the the lender's argument that the Committee's efforts in challenging its claim were not instrumental in the dividend to unsecured creditors was not credible. |
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September 17, 2007 |
Case |
Court |
Holding |
Klein v. George G. Kerasotes Corp.
(DBN Subscription Required) |
7th Cir. |
In a dispute over the sale of shares in a closely held corporation back to the corporation, summary judgment for defendant-corporation is affirmed where the plain language of the Illinois Securities Law of 1953 encompasses both purchasers and sellers of stock such that plaintiff's lawsuit was barred by the law's statute of repose. |
Stanley v. Trinchard
(DBN Subscription Required) |
5th Cir. |
A bankruptcy discharge eliminates the debtor's personal liability for a debt, but not the debt itself. The court erred in finding that a debtor's discharge prevented the debtor's trustee from being able to prove any malpractice damages against the law firm that represented the debtor pre-petition. |
In re International FiberCom, Inc.
(DBN Subscription Required) |
9th Cir. |
The bankruptcy court did not err when it relied upon Federal Rule of Civil Procedure 60(b)(6) in limiting its prior order to ensure that the order complied with the Bankruptcy Code. |
In re Magnacom Wireless, LLC
(DBN Subscription Required) |
9th Cir. |
The FCC’s cancellation of a debtor's licenses
extinguished the debtor’s interest in those licenses and the
underlying spectrum. Such cancellation did not result in any
traceable proceeds, and did not constitute a lien-enforcement
remedy. Thus, the bankruptcy court did not err in denying the debtor's demand for recovery of the proceeds of the licenses. |
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