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New Cases For the Week of March 15, 2010 - March 19, 2010
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| March 19, 2010 |
Case |
Court |
Holding |
In re Condor Ins. Ltd.
(DBN) |
5th Cir. |
In an action by persons appointed Joint Official Liquidators of a Nevis corporation in a Nevis bankruptcy proceeding, alleging Nevis law claims against a related U.S. entity, the district court's affirmance of the bankruptcy court's order dismissing the complaint is reversed where a bankruptcy court has jurisdiction to offer avoidance relief under foreign law in a Chapter 15 bankruptcy proceeding. |
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| March 17, 2010 |
Case |
Court |
Holding |
In re Delco Oil
(DBN) |
11th Cir. |
A bankruptcy estate is entitled to recover from an initial transferee, under 11 USC 549, cash collateral that was delivered to the transferee by a debtor in possession who had no authority to use cash collateral. There is no "innocent vendor" exception to liability under section 549, nor is there a "harmlessness" defense. The fact that the vendor who received cash collateral provided goods of equivalent value was no defense to liability. |
In re Bank of New England Corp.
(DBN) |
D. Ma. |
The Rule of Explicitness has no vitality in bankruptcy, except -- when it did. |
In re Howard
(DBN) |
Bankr. ND CA |
Attorneys are not free, in bankruptcy cases, to contract away fundamental obligations to debtors, including automatic stay representation. |
| March 15, 2010 |
Case |
Court |
Holding |
In re Bryner
(DBN) |
10th Cir. BAP |
Defendants in a state court
action brought by a debtor in bankruptcy may take steps to defend themselves without violating the automatic stay. |
In re Mervyn's Holdings, LLC
(DBN) |
Bankr. DE |
A trustee under a trust established to hold in a bankruptcy remote vehicle is not a "transferee" of the funds transferred to the trust.
A defendant cannot be liable under the "integrated transaction"/"collapsed transactions" theory unless the defendant knew of the entirety of the deal. |
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