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New Cases For the Week of November 23, 2009 - November 27, 2009
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Click here to search prior New Opinion summaries.
| November 25, 2009 |
Case |
Court |
Holding |
In re BH S&B Holdings, LLC
(DBN) |
Bankr. SDNY |
Where a company purchased from a bankruptcy estate ended up in bankruptcy shortly after the purchase, a complaint for piercing the corporate veil and breach of fiduciary duty by the creditors committee in the second bankruptcy was dismissed since there were no allegation that, during the
debtors’ short-lived and rapid path to bankruptcy, any of the defendants did anything to recover
the money they invested or loaned to the debtors. In other words, the defendants too lost a lot of
money as this venture failed. |
In re ION Media Networks, Inc.
(DBN) |
Bankr. SDNY |
A second lien creditor lacks standing to object to confirmation where an intercreditor agreement prohibits junior lien creditors from challenging senior liens. |
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