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New Cases For the Week of August 3, 2009 - August 7, 2009
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Click here to search prior New Opinion summaries.
| August 7, 2009 |
Case |
Court |
Holding |
In re Delta Financial Corp.
(DBN) |
D. DE |
The bankruptcy court did not err in holding that the Inadequate Consideration Clause in a debtor's D&O policy eliminated coverage for a lawsuit alleging that the debtor's officers and directors breached duties in connection with an exchange agreement. |
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| August 6, 2009 |
Case |
Court |
Holding |
In re Rudler
(DBN) |
1st Cir. |
The means test for identifying an abusive Chapter 7 petition allows a debtor to deduct from his income the installment payments due for property he plans to surrender in the bankruptcy. |
In re Chrysler LLC
(DBN) |
2nd Cir. |
District Court order authorizing the sale of substantially all of Chrysler LLC's assets to New CarCo Acquisition LLC is affirmed where: 1) the bankruptcy court did not abuse its discretion in approving the sale as the sale did not constitute an impermissible sub rosa plan and prevented further, unnecessary losses; 2) the court properly held that although the plaintiffs did not consent to the sale order's release of all liens on Chrysler's assets, consent was validly provided by the collateral trustee, who had authority to act on behalf of all first-lien credit holders; 3) the plaintiffs lack standing to raise the issue of whether the Secretary of the Treasury exceeded his statutory authority by using TARP money to finance the sale of Chryslers assets as they cannot demonstrate that they have suffered an injury in fact; and 4) arguments advanced by present and future tort claimants against the portion of the sale order extinguishing all existing and future claims against New Chrysler are rejected. |
In re Johnson
(DBN) |
10th Cir. |
In a bankruptcy adversary proceeding for violating the automatic stay, an order of sanctions against defendant is affirmed where the dismissal of the Chapter 13 case did not divest the Bankruptcy Court of jurisdiction over the 11 U.S.C. section 362(k)(1) adversary proceeding. |
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| August 4, 2009 |
Case |
Court |
Holding |
In re Ford
(DBN) |
10th Cir. |
In an appeal from a bankruptcy court's order rejecting debtors' proposed Chapter 13 bankruptcy plan, the order is affirmed where the bifurcation of "negative equity" owed by debtors on a car loan was impermissible under the "hanging paragraph" of 11 U.S.C. section 1325(a). |
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| August 4, 2009 |
Case |
Court |
Holding |
In re Dana Corp.
(DBN) |
2nd Cir. |
The bankruptcy court erred in granting summary judgment on a claim against the debtor without permitting additional discovery and where there were legitimate issues of fact. |
In re Sportsman's Warehouse, Inc.
(DBN) |
Bankr. DE |
A debtor's post-petition use and occupancy of leased premises does not automatically give rise to an administrative claim. |
Smith v. Duffy
(DBN) |
7th Cir. |
District court's dismissal for failure to state a claim is affirmed where defendants had no duty to tell plaintiff that defendants' employer was about to declare bankruptcy, and none of the their actions were actionable as fraud. |
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