Topic: Bankruptcy Litigation

Krys v. Pigott

Citation: 
Krys v. Pigott, Case No. 12-3575(L) (2d Cir. Apr. 11, 2014)
Ruling: 
Under New York law, claims of aiding and abetting (i) fraud and (ii) breach of fiduciary duty require "actual knowledge" of, respectively, the fraudulent scheme and the applicable breach of duty; "constructive knowledge" is insufficient. The Court raised, but ...
Judge(s): 
Kearse, Pooler, and Livingston
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Borges v. AG New Mexico (In re Borges)

Citation: 
Borges v. AG New Mexico (In re Borges), BAP No. NM-13005 (BAP 10th Cir. 2014)
Ruling: 
Creditor's lien on certain real estate could be avoided under 11 U.S.C. Section 544(a)(3) because under New Mexico law, the recording of a corrected mortgage which added property omitted from the legal description in prior mortgage but was not signed ...
Judge(s): 
Michael, Nugent, and Somers
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Cox, Trustee v. Momar Inc. (In re Affiliated Foods Southwest Inc.)

Citation: 
Cox v. Momar Inc., No. 13-1721 (8th Cir. April 10, 2014)
Ruling: 
The 8th Circuit affirmed the U.S. District Court's (E.D. Arkansas) grant of summary judgment in favor of defendant, finding that ordinary course of business exception barred avoidability of otherwise preferential transfer. Court concluded transfer was made in the ordinary course ...
Judge(s): 
Wollman, Loken, Kelly
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Fernandez v. Havana Gardens, LLC

Citation: 
11th Circuit Court of Appeals Case Number 13-10681 (will not be published).
Ruling: 
The 11th Circuit Court of Appeals affirmed a decision of the United States District Court for the Southern District of Florida.
Judge(s): 
Tjoflat, Pryor and Edmondson
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Adelphia Recovery Trust v. Goldman

Citation: 
No. 11-1858, Slip Op. (2d Cir. Apr. 4, 2014)
Ruling: 
Post-confirmation trust was judicially estopped from claiming that funds transferred to a cash management system were property of the debtors because the schedules and other documents filed by the debtors in bankruptcy court treated the cash management system as property ...
Judge(s): 
Winter, Walker, Cabranes
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Spokane Law Enforcement FCU v. Barker (In re Barker)

Citation: 
In Re Barker, 9th Cir. B.A.P., MT-13-1393-JuKuPa (March 28, 2014) [Unpublished]
Ruling: 
In an unpublished opinion, the 9th Circuit Bankruptcy Appellate Panel affirmed the ruling by the bankruptcy court which held, the bankruptcy court did not have the discretion to allow a late filed proof of claim in a chapter 13 case ...
Judge(s): 
JURY, KURTZ, and PAPPAS,
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Cathay Enterprises, Inc. v. Design Trend International Interiors Ltd. (in the Matter of Cathay Enterprises, Inc.)

Citation: 
Cathay Enterprises, Inc. v. Design Trend Int'l Interiors Ltd. (In re Cathay Enterprises, Inc.), No. 12-15650 (9th Cir. Mar. 31, 2014) (unpublished)
Ruling: 
The Ninth Circuit affirmed the district court's judgment in favor of defendant as to liability, but reversed and remanded for the calculation of prejudgment interest and attorneys' fees. As to liability, the Ninth Circuit affirmed the district court's reversal ...
Judge(s): 
Wallace, McKeown, and Gould
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Luxury Jewels, LLC v. Akers (In re Aroonsakool)

Citation: 
No. SC-13-1206-JuKuPa (9th Cir. BAP March 28, 2014)
Ruling: 
Affirms the bankruptcy court's order for substantive consolidation nunc pro tunc to the debtors' petition date.
Judge(s): 
Jury, Kurtz, and Pappas.
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Aftandilian v. Prestige Management Group, LLC

Citation: 
Slip Copy, 2014 WL 1244789 (9th Cir.BAP (Cal.) (not appropriate for publication)
Ruling: 
The Bankruptcy Appellate Panel first found that though Creditor had taken various steps in reliance of the completed nonjudicial sale, the appeal was not moot. The BAP also concluded that the Bankruptcy Court did not err in denying the ...
Judge(s): 
Kurtz, Pappas, Tayor
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Heatherwood Holdings, LLC v. HGC, Inc. (In re Heatherwood Holdings, LLC)

Citation: 
No. 12-16020 (11th Cir. Mar. 27, 2014)
Ruling: 
First, the defendant-mortgagee was a "person aggrieved" and therefore possessed Article III standing to appeal district court's affirmance of bankruptcy court's ruling that the mortgagee's property was restricted to use as a gof course. Second, the bankruptcy court correctly held ...
Judge(s): 
Chief Judge Carnes, Circuit Judge Tjoflat and U.S. District Judge Marra (Southern District of Florida)
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