Topic: Asset Sales

Fuchs & Associates, Inc. v. Lesso (In re Lesso)

Summarized by Jeremy Ficarola, University of Miami SOL Pro Bono Bankruptcy Clinic 4 days 9 hours ago
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Citation: 
BAP No. CC-12-1515 (9th Cir. BAP) (entered May 10, 2013)(Unpublished)
Ruling: 
Appellant law firm, Fuchs & Associates, Inc. ("FAAI"), has no standing to object or receive proceeds to Elke Lesso's ("Debtor") section 363(f) sale of real property "free and clear" because the Family Court held that FAAI was not a bona ...
Judge(s): 
Markell, Taylor, Montali (9th Cir. BAP)
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Bank of the West v. Damon Pursell Construction Co. (In re Damon Pursell Construction Co.)

Summarized by Michael Tamburini, Polsinelli Shughart, PC 1 week 3 days ago
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Citation: 
Bank of the West v. Damon Pursell Construction Company (In re Damon Pursell Construction Co.), Case No. 13-6015
Ruling: 
The BAP affirmed the decision of the bankruptcy court granting summary judgment in favor of Bank of the West ("BOW") and rejecting National Bank of Kansas City's ("NBKC") request for equitable relief, and ruling that BOW had a first priority ...
Judge(s): 
Kressel, Schermer, and Nail
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Teed v. Thomas & Betts Power Solutions, L.L.C.

Summarized by Steven Schwartz, U.S. Bankruptcy Court, District of Delaware 5 weeks 2 days ago
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Citation: 
Nos. 12-2440, 12-3029 (7th Cir. March 26, 2013)
Ruling: 
Successor liability is appropriate in suits to enforce federal labor or employment laws-even when the successor disclaimed liability when it acquired the assets, unless there is a good reason to withhold such liability (i.e. lack of notice of potential liability, ...
Judge(s): 
Posner, Flaum, Williams
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In re Alabama Aircraft Industries, Inc.

Summarized by John Eggum, Foran Glennon Palandech Ponzi & Rudloff 10 weeks 2 days ago
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Citation: 
No. 12-1290
Ruling: 
Transfer of a cause of action to a Litigation Trust - in accordance with the terms of an Asset Purchase Agreement - can be insulated from attack on appeal pursuant to Section 363(m). That section provides that “[t]he reversal ...
Judge(s): 
McKee, Sloviter, and Vanaskie
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Massachusetts Dept. of Unemployment Assistance v. OPK Biotech, LLC (In re PBBPC, Inc.)

Summarized by Hale Yazicioglu, Bartlett Hackett Feinberg P.C. 16 weeks 4 days ago
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Citation: 
Massachusetts Department of Unemployment Assistance v. OPK Biotech, LLC (In re PBBPC, Inc.), BAP No. MB-12042 (1st Cir. B.A.P. Jan. 17, 2013)
Ruling: 
The First Circuit B.A.P., adopting the expansive definition of “interest” in Section 363(f) of the Bankruptcy Code, held that “interest” in Section 363(f) includes all obligations that may flow from ownership of property, including, the right to tax the purchaser ...
Judge(s): 
Haines, Deasy, Tester
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In re Miller

Summarized by Jim Morgan, Enterprise Law Group 20 weeks 1 day ago
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Citation: 
In re Miller, Case No. 12-9008 (B.A.P. 6th Cir. December 27, 2012) (limited precedential effect pursuant to 6th Cir. BAP LBR 8013-1(b))
Ruling: 
The Bankruptcy Appellate Panel for the Sixth Circuit (the “BAP”) held that the appellants, a chapter 7 debtor and his heir, were not “persons aggrieved” by the bankruptcy court’s order authorizing the sale of real property and, therefore, they lacked ...
Judge(s): 
Emerson, Fulton, and Preston, Bankruptcy Appellate Panel Judges
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TC Healthcare I, LLC v. Dupuis (In re Haven Eldercare, LLC)

Summarized by Weston Eguchi, Willkie Farr & Gallagher LLP 25 weeks 6 days ago
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Citation: 
TC Healthcare I, LLC v. Dupuis (In re Haven Eldercare, LLC), Case No. 12-468-bk (2d Cir. Nov. 15, 2012) (summary order) [Not Precedential]
Ruling: 
The Circuit Court AFFIRMED the District Court judgment barring, as res judicata, the motion of the Appellant, a Section 363 purchaser of the Debtor's assets, seeking an order declaring that Appellant is not liable to the Appellee, the counterparty to ...
Judge(s): 
Barrington D. Parker, Reena Raggi, and Gerard Lynch.
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Lefkowitz v. Michigan Trucking, LLC (In re Gainey Corp.)

Summarized by Omid Moezzi, Nancy Curry Chapter 13 Trustee 35 weeks 3 days ago
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Citation: 
BAP 6th Cir. (Case No. 11-8038)
Ruling: 
AFFIRMING the bankruptcy court's ruling for an order dismissing the Appellant's (the Liquidation Trustee) adversary complaint for failure to state a claim for relief pursuant to Federal Rule of Civil Procedure 12(b)(6).
Judge(s): 
Fulton, McIvor and Shea-Stonum.
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In re Knight-Celotex, LLC

Summarized by Karl Johnson, Law Office of Karl Johnson 35 weeks 4 days ago
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Citation: 
In re Knight-Celotex, LLC, et al., Case No. 11-01815, ---F.3d ---- (7th Cir. Sept. 5, 2012)(slip opinion) (Hamilton, J)
Ruling: 
AFFIRMING the District Court, the Seventh Circuit held that the Bankruptcy Court did not abuse its discretion by finding that a trustee was not judicially estopped from assigning claims against the principal of corporate debtors due to the trustees ...
Judge(s): 
Cudahy, Kanne, and Hamilton, Seventh Circuit Judges.
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Lovald v. Tennyson (In re Wolk)

Summarized by William Joanis, JoanisLaw 41 weeks 4 days ago
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Citation: 
Lovald v. Tennyson (In re Wolk), Case No. 10-6050 (8th Cir.BAP Oct. 14, 2010)
Ruling: 
The strong arm powers under section 544 provide the trustee with the powers of a bona fide purchaser. In South Dakota, a co-owner of property can overcome the presumption that property held as a tenant in common is held in ...
Judge(s): 
Kressel, Chief Judge, Federman, and Saladino, Bankruptcy Judges
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