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Topic: Asset Sales

International Union, United Automobile, Aerospace & Agricultural Implement Workers of America v. General Motors

Citation: 
15a0361n.06
Ruling: 
Ruling against the United Auto Workers (UAW) and in favor of GM, the Sixth Circuit held the 2009 Retiree Settlement Agreement (2009 RSA) extinguished an obligation for New GM to pay $450 million under a 2009 Master Sale and Purchase ...
Judge(s): 
Boggs, Sutton and Stranch, Circuit Judges.
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Lane v. Barney (In re Lane)

Citation: 
Lane v. Barney (In re Lane), BAP No. WY-14-053 & 14-054 (BAP 10th Cir. Mar. 20, 2015)
Ruling: 
BAP for 10th Circuit dismissed appeal as moot after debtor appealed bankruptcy court (D. Wy.) striking debtor's objection to chapter 7 trustee's motion to sell property of estate. Because debtor appellant had not obtained stay, sale of coins had occurred ...
Judge(s): 
Thurman, Michael, Karlin
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Peet v. Checkett (In re Peet)

Citation: 
Peet v. Checkett (In re Peet), No. 14-6033 (BAP 8th Cir. Apr. 22, 2015)
Ruling: 
The BAP for the 8th Circuit affirmed the ruling of the bankruptcy court overruling debtors' objection to chapter 7 trustee's motion to sell real estate and a pickup. BAP agreed that notwithstanding nondebtor co-owners of the sale property as of ...
Judge(s): 
Kressel, Schermer, Nail
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Baker Hughes Oilfield Operations, Inc. v. Morton (In the Matter of R.L. Adkins Co.)

Citation: 
Case No. 14-10768 (5th Cir. April 23, 2015)
Ruling: 
Appellant was not entitled to maintain its Section 1111(b) election because the confirmed plan provided for a sale of the appellant's collateral and appellant failed to provide notice of its intent to credit bid on the collateral.
Judge(s): 
REAVLEY, JONES, and ELROD, Circuit Judges.
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Lei v. Yan (In re Yan)

Citation: 
Lei v. Yan (In re Yan), 9th Cir. B.A.P (NC-14-1266-JuTaPa), February 26, 2015 [Not for Publication]
Ruling: 
In an unpublished opinion the Bankruptcy Appellate Panel for the 9th Circuit affirmed the bankruptcy court’s denial of creditor motion seeking damages for violations of the automatic stay under § 362(k)(1). The court held that the creditor did not ...
Judge(s): 
JURY, TAYLOR, and PAPPAS, Bankruptcy Judges.
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Baker v. Baker (In the Matter of Baker)

Citation: 
No. 14-10569 (non-precedential)
Ruling: 
Fifth Circuit AFFIRMED lower courts' rulings that bankruptcy court could exercise jurisdiction to interpret and enforce its own prior sale order. District Court further did not commit err by affirming bankruptcy court's denial of the motion to amend a ...
Judge(s): 
KING, DAVIS, and OWEN (per curiam)
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Tamm v. United Sates Trustee, Honolulu (In re Hokulani Square, Inc.)

Citation: 
Case No. 11-60072 (9th Cir. 2015)
Ruling: 
Relying on plain language, legislative history, and following prior decisions by the Third and Fifth Circuits, the Ninth Circuit Panel held that section 326(a) of the Bankruptcy Code does not permit trustee compensation for returning property to a secured lender ...
Judge(s): 
Alex Kozinski, Raymond C. Fisher, and Paul J. Watford, Circuit Judges. Opinion by Judge Kozinski.
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Wells Fargo Bank v. Sonora Desert Dairy (In re Sonora Desert Dairy, LLC)

Citation: 
Wells Fargo Bank v. Sonora Desert Dairy (In re Sonora Desert Dairy, LLC) 9th Cir. B.A.P., BAP Nos. AZ-13-1471-KiDJu, AZ-13-1555-KiDJu, (January 5, 2015) [NOT FOR PUBLICATION]
Ruling: 
The 9th Circuit Bankruptcy Appellate Panel in an unpublished opinion vacated an order by the bankruptcy court authorizing a postpetition financing loan from creditor AgStar Financial Services, to the Debtor. The Bankruptcy Appellate Panel affirmed the second order appealed by ...
Judge(s): 
KIRSCHER, DUNN and JURY, Bankruptcy Judges
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The Zuercher Trust of 1999 v. Kravitz (In re The Zuercher Trust of 1999)

Citation: 
In re The Zuercher Trust of 1999, No. NC-13-1299-PaJuKu (9th Cir. B.A.P. Dec. 17, 2014).
Ruling: 
The appeal of a sale-approval order is not equitably moot if the buyer is before the court and the sale can be unwound equitably. Allegations of events occurring after bankruptcy-court approval of a sale that bear on the appellee's good ...
Judge(s): 
Jim D. Pappas, Meredith A. Jury, and Frank L. Kurtz, Bankruptcy Judges.
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Citizens Bank & Trust v. Security First Insurance Holdings, LLC (In re Brooke Capital Corp.)

Citation: 
Citizens Bank & Trust v. Security First Insurance Holdings, LLC (in re Brooke Capital Corp.), __ Fed. Appx. __, 2014 WL 6873180 (10th Cir. December 8, 2014)
Ruling: 
In a priority dispute between lenders, those holding participation interests in a loan secured by stock were subject to the recharacterization of their participation interest as loans, which rendered their claims unsecured security interests subordinate to claim of a competing ...
Judge(s): 
Kelly, Lucero, and Matheson
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