New Cases For the Week of February 6, 2012 - February 10, 2012

 

February 9, 2012

In re Enron Creditors Recovery Corp.
(DBN)
2nd Cir. A "most favored nation" clause in a settlement agreement (and, by reference, a confirmed plan) provided that if "the Debtors" paid a higher percentage to any class of claims than they did to the settling creditor, the settling creditor's percentage recovery would increase to match the higher percentage. However, the agreement's reference to "the Debtors" referred to the collective action of the debtors acting as a whole, and not to the actions of an individual debtor. The settling creditor was not entitled to a higher payment if a single debtor paid a higher percentage dividend.
In re Maui Industrial Loan & Finance Company
(DBN)
Bankr. HI Defendants in avoidance action allowed to withdraw their proofs of claim with prejudice in order to obtain jury trial.
     

February 8, 2012

The Liquidating Trustee Of The MPC Liquidating Trust v. Granite Financial Solutions, Inc.
(DBN)
Bankr. DE The question pondered by the Supreme Court in Stern, whether the bankruptcy judge had the power to enter a final judgment in a state law counterclaim by the estate, is entirely separate from the question of whether a bankruptcy judge has jurisdiction to hear a matter without entering a final judgment.
     
Copyright © 2011  [BKINFORMATION.COM]. All rights reserved.