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New Cases For the Week of March 23, 2009 - March 27, 2009
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Click here to search prior New Opinion summaries.
| March 27, 2009 |
Case |
Court |
Holding |
In re Tender Loving Care Health Services, Inc.
(DBN Subscription Required) |
2nd Cir. |
When a bankruptcy court allows a claim after the debtor has objected to it, the claim has not been "entered without a contest" under Federal Rule of Bankruptcy Procedure 9024. The fact that the parties have settled their dispute over the claim without additional court proceedings to decide the merits of the claim does not change this analysis. As a result, pursuant to Rule 9024, there is a one-year limit within which to file a motion for reconsideration of such a claim. |
In re Skuna River Lumber, LLC
(DBN Subscription Required) |
5th Cir. |
When property is transferred out of a bankruptcy estate free and clear of all liens, the bankruptcy court ceases to have jurisdiction over that property, and the property cannot be surcharged for sale expenses. The court erred in imposing a personal judgment for surcharge against the purchaser of the property (here, a credit-bidding lender). If the bankruptcy court wishes to retain jurisdiction over such property, it should withhold approval of the sale pending the purchaser's payment of surchargeable fees (or perhaps provide that any property acquired by credit bid will be conveyed subject to lien securing such fees). |
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| March 26, 2009 |
Case |
Court |
Holding |
Matthews v. Potter
(DBN Subscription Required) |
7th Cir. |
Although the doctrine of judicial estoppel can operate to bar the post-bankruptcy assertion by a debtor of litigation claims not disclosed during a bankruptcy, application of that rule is not appropriate where the debtor orally advised the bankruptcy trustee of the existence of the claims, and the trustee allowed the claims to be abandoned by operation of law. Proof of oral disclosure of the claims can be accomplished by the debtor's own testimony |
In re Federal-Mogul Global
(DBN Subscription Required) |
D. De. |
The anti-assignment clauses in insurance policies are preempted by 11 U.S.C. § 1123(a)(5)(B). The transfer of insurance rights to a trust under a plan, therefore, are valid under § 524(g), § 541(c)(1), § 1123(a)(5)(B), and § 1129(a)(1) of the United States Bankruptcy Code. |
In re Solutia, Inc.
(DBN Subscription Required) |
Bankr. SD NY |
Creditors whose counsel's efforts resulted in clarification of an ambiguous disclosure statement and plan made a substantial contribution to the case and were entitled to a substantial contribution claim in the amount of $267,745 in fees and $14,026 in expenses. Counsel's efforts inured to the benefit of many other creditors and provided a substantial benefit by reducing the likelihood of post-confirmation litigation over what the plan meant. |
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| March 24, 2009 |
Case |
Court |
Holding |
In re LTV Steel Corp.
(DBN Subscription Required) |
6th Cir. |
In an action by a committee alleging negligence by the corporation's directors, the dismissal of Defendant-Directors' appeal of the order forming the committee is affirmed, where Defendants lacked standing to appeal the order because the mere fact that it authorized the committee to sue Defendants did not render Defendants aggrieved. |
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