August 02, 2013 | The Legal Intelligencer
Electricity May Be a 'Good' for Administrative ClaimsOn January 8, in In re Southern Montana Electric Generation and Transmission Cooperative, No. 11-62031-11, 2013 Bankr. LEXIS 62 (Bankr. D. Mont. 2013), the U.S. Bankruptcy Court for the District of Montana entertained argument by the Chapter 11 trustee, the debtor's official committee of unsecured creditors, and certain individual creditors (collectively, the movants) in a motion aimed at defeating the administrative claim of a competing creditor, PPL EnergyPlus LLC.
By Rudolph J. Di Massa Jr. and James G. Schu Jr.
6 minute read
September 20, 2013 | The Legal Intelligencer
Withdrawal Liability, Dischargeability and Fiduciary DutyOn August 20, in Carpenters Pension Trust Fund for Northern California v. Moxley, --- F.3d --- (9th Cir. 2013), the U.S. Court of Appeals for the Ninth Circuit affirmed the decisions of the U.S. District Court for the Northern District of California and the U.S. Bankruptcy Court for the Northern District of California, both of which had held that an individual could properly receive a bankruptcy discharge for "withdrawal liability" owed to a pension fund under the Employee Retirement Income Security Act (ERISA).
By Rudolph J. Di Massa Jr. and Catherine E. Beideman
7 minute read
June 06, 2008 | The Legal Intelligencer
Court Imposes $650,000 in Sanctions on Lender, Servicer and CounselIn Nosek v. Ameriquest Mortgage Company, the United States Bankruptcy Court for the District of Massachusetts imposed $650,000 in sanctions under Federal Rule of Bankruptcy Procedure 9011 on Ameriquest Mortgage Company, Ameriquest's local law firm, one of the firm's partners, Ameriquest's national law firm and Norwest Bank, Minnesota, N.A. (now known as Wells Fargo Bank, N.A.), on the basis that these parties misrepresented and/or failed to clarify the role Ameriquest played with respect to a mortgage and mortgage note.
By Rudolph J. Di Massa Jr. and Sommer L. Ross
11 minute read
February 29, 2012 | Delaware Business Court Insider
Section 548's Two Year Look-Back Period Not a Statute of LimitationsIn Industrial Enterprises of America Inc. v. Burtis ( In re Pitt Penn Holding Co. Inc. ), the U.S. Bankruptcy Court for the District of Delaware was faced with an issue of apparent first impression in the 3rd U.S. Circuit Court of Appeals: whether the two year look-back period set forth in §548 of the Bankruptcy Code is subject to equitable tolling. The court held that it was not.
By Rudolph J. Di Massa Jr. and Blake D. Roth The Legal Intelligencer
8 minute read
May 03, 2013 | The Legal Intelligencer
Direct Deposits to Jointly Held Account Are Fraudulent TransfersOn February 28, in Cohen v. Sikirica (In re Cohen), the U.S. District Court for the Western District of Pennsylvania affirmed the decision of the U.S. Bankruptcy Court for the Western District of Pennsylvania, which held that direct deposits of a debtor's paycheck into an entireties account held jointly by the debtor and his wife constituted fraudulent transfers under Pennsylvania law.
By Rudolph J. Di Massa Jr. and Catherine E. Beideman
7 minute read
January 06, 2012 | The Legal Intelligencer
Justices' 'Narrow' Decision Doesn't Bar 'Lock-Up' RestrictionOn Aug. 30, 2011, in In re Safety Harbor Resort & Spa a/k/a S.H.S. Resort LLC , the U.S. Bankruptcy Court for the Middle District of Florida addressed whether the U.S. Supreme Court's holding in Stern v. Marshall prevented the bankruptcy court from imposing certain "lock-up" restrictions on the debtor and certain nondebtor guarantors to prevent the disposal of assets by those parties.
By Rudolph J. Di Massa Jr. and Catherine E. Beideman
8 minute read
August 07, 2009 | The Legal Intelligencer
UCC 'Goods' Definition Applies to Section 503(b)(9) of Bankruptcy CodeIn In re Plastech Engineered Products Inc., the U.S. Bankruptcy Court for the Eastern District of Michigan held that the Uniform Commercial Code's definition of "goods" applies in determining whether a claim is entitled to administrative expense priority under Section 503(b)(9) of the Bankruptcy Code, which grants such priority to claims for the value of goods received by the debtor within 20 days before the petition date.
By Rudolph J. Di Massa Jr. And Matthew E. Hoffman
9 minute read
April 09, 2004 | The Legal Intelligencer
Section 510(b) Does Not Apply After Notes IssuedOne of the fundamental principles of the Bankruptcy Code is that unsecured creditors receive payment in full from a debtor's bankruptcy estate before equity holders receive anything from the estate.
By Rudolph J. Di Massa Jr.and Wendy M. Simkulak
5 minute read
March 30, 2012 | The Legal Intelligencer
Lack of Candor in Retention Applications Results in Forfeiture of FeesA recent decision by the U.S. District Court for the Northern District of California emphasizes the importance of candor in retention applications filed in bankruptcy cases.
By Rudolph J. Di Massa Jr. and Laura D. Bonner
9 minute read
March 09, 2007 | The Legal Intelligencer
Court Avoids Debtor's Payment Of a Supersedeas Bond as a PreferenceIn In re Thermoview Indus. Inc., the U.S. Bankruptcy Court for the Western District of Kentucky had to decide whether to avoid a Chapter 11 debtor's payment of a supersedeas bond to stay enforcement of a creditor's judgment against the debtor pending appeal.
By Rudolph J. Di Massa Jr. and Matthew E. Hoffman
8 minute read
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