238 results for 'cat:"Bankruptcy"'.
J. Aaron finds that the lower court properly found for the owner of an apartment complex in claims contending legal malpractice resulted in sale of a property in foreclosure. The case was complicated by a bankruptcy filing represented by another law firm, and the attorney handling foreclosure failed to alert the owner of the sale when the bankruptcy stay was lifted. Furthermore, the law firm handling the bankruptcy matter lacked liability in the foreclosure action. Affirmed.
Court: New York Appellate Divisions, Judge: Aarons, Filed On: January 4, 2024, Case #: CV-22-2238, Categories: bankruptcy, Foreclosure, Legal Malpractice
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J. Williams declines to withdraw references to an adversary proceeding currently pending in bankruptcy court in which a jury trial is being sought on fraudulent transfer claims connected with the FTX Group and Samuel Bankman-Fried. The current bankruptcy proceeding is at the early stages of litigation, and the matter may not even proceed to trial. Meanwhile, the "Pruitt" factors do not support withdrawal at this time.
Court: USDC Delaware, Judge: Williams, Filed On: January 2, 2024, Case #: 1:23cv915, NOS: Bankruptcy Withdrawal 28 USC 157 - Bankruptcy, Categories: bankruptcy, Civil Procedure
J. Faris reverses the bankruptcy court's monetary sanctions against an attorney who told it the debtors she represented had completed their Chapter 13 plan, when, in fact, they were more than $50,000 behind on mortgage payments. It is plausible the attorney's statements were not false; however, her conduct "ranged from negligent to reckless to seriously misleading," and the bankruptcy court can consider other measures, such as a referral to the disciplinary counsel. Reversed.
Court: 9th Circuit, Judge: Faris, Filed On: December 29, 2023, Case #: CC‐23‐1112‐FLG , Categories: bankruptcy, Sanctions, Attorney Discipline
Per curiam, the circuit finds that the district court properly held that $12.8 million that a bank transferred to a Bernie Madoff customer following the collapse of his Ponzi scheme constituted debtor property that should be returned for liquidation in bankruptcy. Documentary evidence indicates that, while Madoff restructured his business from a sole proprietorship to an LLC, business assets including bank accounts moved with the change in ownership to remain in the debtor's estate. Affirmed.b
Court: 2nd Circuit, Judge: Per curiam, Filed On: December 19, 2023, Case #: 22-3006, Categories: bankruptcy, Banking / Lending
J. Dlott grants the debt collector's motion for summary judgment, ruling that because the consumer failed to disclose this lawsuit during bankruptcy proceedings, she is judicially estopped from bringing the Fair Debt Collections Practices Act claims against the collector.
Court: USDC Southern District of Ohio, Judge: Dlott, Filed On: December 19, 2023, Case #: 1:21cv291, NOS: Consumer Credit - Other Suits, Categories: bankruptcy, Debt Collection, Consumer Law
J. Tymkovich finds that the bankruptcy court properly ruled in dispute over a question of earmarked funds. The funds were earmarked to pay off a debt to the mother of a man who owned a petroleum company before filing for bankruptcy, which the trustee tried to recover because the mother was being paid before creditors who were given a higher priority under the bankruptcy plan. The lower court properly rejected the trustee's claims on the basis that the petroleum company did not have an interest in those funds, as well as the fact that the overall bankruptcy estate was not diminished by allowing the payments to the mother. Affirmed.
Court: 10th Circuit, Judge: Tymkovich , Filed On: December 12, 2023, Case #: 22-2073, Categories: bankruptcy
J. Falk finds a lower court properly dismissed British Telecommunications' motion for debt relief concerning non- payment from retail customers. The telecommunications company argued that it timely filed for insolvency, and that its tax imposition should be reduced under the old scheme. However, the revenue and customs authority presented sufficient evidence in court that it was not unjustly enriched when it when it collected tax and unpaid restitution from the company under new tax laws. Affirmed.
Court: Her Majesty's Court of Appeal, Judge: Falk, Filed On: December 4, 2023, Case #: CA-2021-700, Categories: bankruptcy, Tax
J. Thapar finds the lower court properly converted the drug rehab facility's bankruptcy proceedings from Chapter 11 to Chapter 7. It had no operating income, very few assets and its license had been revoked by the state of Ohio, all of which created a high likelihood it would not rehabilitate. Affirmed.
Court: 6th Circuit, Judge: Thapar, Filed On: November 29, 2023, Case #: 23-3375, Categories: bankruptcy, Civil Procedure
J. Staton affirms the bankruptcy court's order denying attorney fees but reverses its order denying costs, awarding $11,032 to the debtor. The bankruptcy court determined that there was no prevailing party in the matter, and the debtor appealed. The "definition of prevailing party for purposes of costs is different than that used for attorney’s fees." The bankruptcy court applied the correct legal standard for determining attorney fees but lacked discretion to deny the debtor "prevailing party" status regarding costs.
Court: USDC Central District of California, Judge: Staton, Filed On: November 28, 2023, Case #: 5:23cv301, NOS: Bankruptcy Appeal 28 USC 158 - Bankruptcy, Categories: bankruptcy
J. Jackson-Akiwumi finds that the bankruptcy court properly disallowed the creditor's claim in its entirety because the matter of the loan's repayment was already decided by a consent agreement. Affirmed.
Court: 7th Circuit, Judge: Jackson-Akiwumi, Filed On: November 27, 2023, Case #: 22-1424, Categories: bankruptcy
[Consolidated.] J. Chin finds that the district court properly dismissed certain fraudulent conveyance and fiduciary claims stemming from the leveraged buyout of an apparel and footwear company and its successor's subsequent filing for bankruptcy protection. Safe harbor rules applied due to the financial institution's involvement in making payouts to pre-merger public shareholders, thereby limiting the Chapter 11 trustee's ability to claw back the money. However, payments made to former directors, officers, and employees through payroll means should have been shielded from recoupment as well.
Court: 2nd Circuit, Judge: Chin, Filed On: November 27, 2023, Case #: 20-3257-cv (L), Categories: bankruptcy, Fiduciary Duty
J. Bulla finds the district court improperly found for an attorney in this bankruptcy and property dispute. The bankruptcy court placed a lien on property purchased with funds misappropriated from the family trust. Though the attorney is entitled to enforce any remainder of the lien, he is not entitled to a constructive trust, title to the property, or recovery for fraudulent transfer or conversion. The district court failed to recognize the preclusive effect of prior orders, and factual disputes remain. Reversed.
Court: Nevada Court of Appeals, Judge: Bulla , Filed On: November 22, 2023, Case #: 84908-COA, Categories: bankruptcy, Fraud, Property
Per curiam, the circuit finds that an appeal should be dismissed as brought from an order vacating and remanding default judgment entered against a creditor in bankruptcy court. The litigation administrator of the debtors' post-confirmation estates challenged the order, which reopened an adversary proceeding over collection efforts on behalf of the creditor, but default judgment did not constitute an appealable final order.
Court: 2nd Circuit, Judge: Per curiam, Filed On: November 22, 2023, Case #: 23-60-bk, Categories: bankruptcy, Civil Procedure, Jurisdiction
J. Simon denies the majority shareholders' motion to dismiss the minority shareholder's complaint that the majority shareholders breached their fiduciary duties to him as a minority shareholder of PPV Inc. The majority shareholders claim that the minority shareholder could have brought up his fiduciary duty claim during a prior bankruptcy proceeding, but the bankruptcy court already concluded that it did not have jurisdiction over that claim, and the majority shareholders do not have an argument for why the bankruptcy court would have jurisdiction.
Court: USDC Oregon, Judge: Simon, Filed On: November 21, 2023, Case #: 3:23cv526, NOS: Stockholders’ Suits - Contract, Categories: bankruptcy, Fiduciary Duty, Jurisdiction
J. Mosman denies the owner of two properties' motion leave to appeal the interlocutory order regarding his complaint that he has a business justification to reject his contract with the real estate agent and others, and that the bankruptcy court erred when it prevented the owner from presenting evidence of a business justification that he did not provide at the initial confirmation hearing. The owner does not sufficiently argue that there is any case law indicating that courts regard the rejection of executory contracts differently under Chapter 11 or Chapter 13 bankruptcy plans, and there is "no substantial ground for difference of opinion" of this appeal because it is not novel or difficult to understand from when it appeared in the bankruptcy court.
Court: USDC Oregon, Judge: Mosman, Filed On: November 9, 2023, Case #: 3:23cv1063, NOS: Bankruptcy Appeal 28 USC 158 - Bankruptcy, Categories: bankruptcy, Evidence
J. Africk grants summary judgment to the FDIC, the government-appointed receiver of a failed New Orleans bank, finding a group of insurance policies cover the FDIC’s timely claims against the bank’s CEO for breach of fiduciary duty and gross negligence in approving loans at the director level.
Court: USDC Eastern District of Louisiana , Judge: Africk, Filed On: November 8, 2023, Case #: 2:22cv9, NOS: Insurance - Contract, Categories: bankruptcy, Insurance, Banking / Lending
J. Elliott grants summary judgment in favor of a lawyer who was sued by a prior client for failing to let the client know about an extension the IRS granted him. The prior client’s claims are barred by the statute of limitations, because even though he had not been aware of the extension, he was able to have become aware of it.
Court: USDC New Hampshire, Judge: Elliott, Filed On: November 6, 2023, Case #: 1:22cv3, NOS: Other Statutory Actions - Other Suits, Categories: bankruptcy, Tax, Legal Malpractice
J. Maze finds that the district court properly granted judgment for the debtor on most of the creditor's claims seeking to exempt debts owed by the debtor from being discharged in a Chapter 7 bankruptcy action. The district court correctly found that the debtor did not conceal property by splitting it into two parcels. The creditor failed to show the debtor knowingly withheld information about the property, made a false oath or tried to prevent the property from being discovered. However, the creditor pleaded a valid discharge exception for a $4 million transfer from the debtor's investment company to another account. The creditor pleaded facts which could show that the debtor obtained the investment company's money by actual fraud. Reversed in part.
Court: 11th Circuit, Judge: Maze, Filed On: November 2, 2023, Case #: 22-11118, Categories: bankruptcy