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New Cases For the Week of January 21, 2008 - January 25, 2008
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Click here to search prior New Opinion summaries.
| January 25, 2008 |
Case |
Court |
Holding |
In re Calpine Corp.
(DBN Subscription Required) |
Bankr SDNY |
Interest holders who voted against a plan, but did not object to confirmation, were not entitled to a stay pending appeal of the confirmation order. Any putative harm the interest holders might suffer was the result of their own dilatory conduct. |
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| January 24, 2008 |
Case |
Court |
Holding |
In re Food Management Group
(DBN Subscription Required) |
Bankr. SDNY |
A chapter 11 trustee as the representative of the estate is in no sense a
wrongdoer (imputed or otherwise), or in pari delicto, when fraud is committed by the debtor’s principals in
connection with a Bankruptcy Code § 363 sale of estate assets that requires court
approval.
Because debtor's counsel, as an officer of the court, has a duty to disclose all
material facts relating to the proposed sale of estate assets, including specific disclosure of any
actual or potential arrangements or agreements with third parties concerning the purchase
of estate property, a complaint which alleges a failure of such disclosure properly states a claim for fraudulent concealment.
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In re Larson
(DBN Subscription Required) |
1st Cir. |
An order affirming a bankruptcy court decision which capped the homestead exemption for a debtor is affirmed where a state court finding that a debtor was criminally liable for negligent homicide triggers the federal statutory cap on state homestead exemptions under the Bankruptcy Abuse Prevention and Consumer Protection Act |
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