New Cases - Week of October 27, 2008

New Cases For the Week of October 27, 2008 - October 31, 2008

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October 30, 2008
Case	Court	Holding

GECC v. Future Media (DBN Subscription Required)	9th Cir.	An oversecured creditor who is paid in full under a plan is not entitled to default interest. The bankruptcy court erred in extending this bright line rule to an oversecured creditor paid in full pursuant to sales occurring outside of a plan.
In re U.S. Wireless Data (DBN Subscription Required)	2nd Cir.	A creditor who missed a cure claim bar date cannot file the claim as a general unsecured claim.

October 29, 2008
Case	Court	Holding

In re Haque
(DBN Subscription Required)

Bankr. S.D. Fl.

"[Secured creditor's law firm] seems to suggest that state court foreclosure actions are real and important proceedings but that the bankruptcy court is merely an administrative hurdle that warrants no particular consideration as a legal body, and that filing any old pleading without undertaking any investigation into its accuracy is perfectly acceptable practice."

The law firm, which improperly added "penalty interest" to a proof of claim, is sanctioned $95,000.

October 28, 2008
Case	Court	Holding

In re: SRC Holding Corp. (DBN Subscription Required)	8th Cir.	In a coverage dispute arising in bankruptcy proceedings, rulings primarily against the insurer are reversed where the district court erred by concluding that the insurance policy provided defense costs and indemnification for claims brought against a company and its directors and officers in certain litigation.