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New Cases For the Week of July 6, 2009 - July 10, 2009
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Click here to search prior New Opinion summaries.
| July 8, 2009 |
Case |
Court |
Holding |
In re Charter Communications
(DBN Subscription Required) |
Bankr. SDNY |
A dispute turning on State law regarding a pre-petition contract can be a core proceeding if the dispute directly affects a core bankruptcy function. The determination of whether a matter is core is influenced by the ramifications of the matter on the administration of the bankruptcy estate. |
In re Probulk, Inc.
(DBN Subscription Required) |
Bankr. SDNY |
A bankruptcy trustee was entitled to a TRO prohibiting the debtor's maritime insurers from canceling the debtor's insurance policies. The court determined that the insurers were unlikely to prevail on their argument that a "cessor clause" (a self enabling clause terminating coverage pre-petition upon the resolution of the insured's board to file bankruptcy) had effected the pre-petition termination of coverage. |
In re Journal Register Company
(DBN Subscription Required) |
Bankr. SDNY |
A "gift" by secured creditors to some, but not all, unsecured creditors to be made made via a distribution under a plan does not prevent confirmation of the plan. |
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| July 6, 2009 |
Case |
Court |
Holding |
In re QSI Holdings
(DBN Subscription Required) |
6th Cir. |
§ 546(e) is not limited to publicly traded securities but also extends to private securities transactions, such as a leveraged buyout. |
In re Ion Media Networks, Inc.
(DBN Subscription Required) |
Bankr. SDNY |
A DIP contender's decision to remove a due diligence contingency (after the Court approved a competing DIP proposal) was not sufficient grounds to reconsider approval of the other DIP. |
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