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Topic: Corporate Governance

Michael's Enterprises of Virginia, Inc. v. Branch Bank and Trust Company (In re Michael's Enterprises of Virginia, Inc.)

Citation: 
Michael's Enterprises of Virginia, Inc. v. Branch Bank and Trust Company (In re Michael's Enterprises of Virginia, Inc.), Case no. 15-1807 (4th Cir. Apr. 6, 2016) (unpublished) (per curiam)
Ruling: 
The decision of the bankruptcy court awarding sanctions against the corporate debtor and its sole shareholder on the grounds that the chapter 11 petition had been filed for the improper purpose of collaterally attacking a state court's pre-petition ruling on ...
Judge(s): 
Before Wilkinson and Floyd, Circuit Judges, and Davis, Senior Circuit Judge.
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Krueger v. Torres (In re Krueger)

Citation: 
No. 14-11355, fifth Circuit Court of Appeals
Ruling: 
Debtor that flagrantly and repeatedly abused bankruptcy and court processes to retain assets for himself and defeat the legitimate claims of his business partners was properly dismissed pursuant to 11 U.S.C. § 707(a) as his bad faith constituted “cause” for dismissal.
Judge(s): 
HIGGINBOTHAM, JONES, and SMITH, Circuit Judges.
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Antioch Co. Litigation Trust v. Morgan, et al.

Citation: 
File Name 15a0778n.06; Docket No. 14-3790
Ruling: 
The Sixth Circuit Court of Appeals affirmed in part and reserved in part pending certification of a question to the Ohio Supreme Court. The Court of Appeals affirmed dismissal of claims alleging breach of fiduciary duty dismissed below after ...
Judge(s): 
Guy, Moore and Kethledge, opinion by Guy
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Biltmore Investments, LTD v. TD Bank, N.A.

Citation: 
Biltmore Investments, LTD v. TD Bank, N.A., Case No. 15-1076 (4th Cir. Oct. 1, 2015) (unpublished) (per curiam).
Ruling: 
The court of appeals held the automatic stay expired upon confirmation of a Chapter 11 plan of reorganization. The district court erred in extending the automatic stay stay to enjoin a bank from foreclosing on the stock of ...
Judge(s): 
Before Circuit Judges Paul V. Niemeyer,Robert B. King, and Roger L. Gregory.
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In re Charles Edward Taylor, II

Citation: 
In re Taylor, No. 14–3017, 2015 WL 4393732, --- F.3d --- (7th Cir. July 20, 2015)
Ruling: 
Affirming the district court, the Seventh Circuit first held that the appeal was not moot even though the debtor had entered into a settlement agreement with one of the appellees because the other appellees would not consent to the settlement ...
Judge(s): 
Wood, Chief Judge; Rovner, Circuit Judge; and Springmann, District Judge (sitting by designation)
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Corrie Opportunities Fund, LP v. Emmis Communications Corp.

Citation: 
Corrie Opportunities Fund, LP v. Emmis Communications Corp., Court of Appeals, 7th Circuit (July 2, 2015)
Ruling: 
This ruling set a precedent, as there have been no cases in Indiana courts that interpret the statutes discussed in this case. As long as a share is “outstanding,” it has a vote and in Indiana, a corporation has ...
Judge(s): 
Flaum, Easterbrook, Kanne
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Official Committee of Unsecured Creditors v. Baldwin

Citation: 
Official Comm. of Unsecured Creditors v. Baldwin (In re Lemington Home for the Aged), Case No. 13-2707 (3d Cir. Feb. 23, 2015)
Ruling: 
Petition for rehearing by the merits panel and the Third Circuit Court of Appeals, en banc, is denied. In a separate opinion concurring in the denial of the petition for rehearing, four Circuit Judges (Jordan, joined by Rendell, Ambro ...
Judge(s): 
McKee, Chief Judge; Rendell; Ambro; Fuentes; Smith; Fisher; Chagares; Jordan; Hardiman; Greenaway, Jr.; Vanaskie; Shwartz and Krause; Jordan (concurring, joined by Rendell, Ambro and Krause)
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USACM Liquidating Trust v. Deloitte &Touche

Citation: 
No 11-15626 (9th Cir., June 6, 2014)
Ruling: 
The Court of Appeals for the Ninth Circuit, amending its opinion dated February 18, 2014, AFFIRMED the decision of the district court, and denied debtor's petition for a rehearing.
Judge(s): 
J. Clifford Wallace, Sandra S. Ikuta, and Marvin J. Garbis.
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The Majestic Star Casino, LLC v. Barden Development, Inc. (In re The Majestic Star Casino, LLC)

Citation: 
Nos. 12-3200/3201 (3d Cir., May 21, 2013)
Ruling: 
Debtor lacked standing to challenge non-debtor parent/shareholder's revocation of election of S Corp status. Rejecting cases from other circuits, the Third Circuit found that S Corp status is not a property interest. Alternatively, even if S Corp status ...
Judge(s): 
Ambro, Jordan, and Vanaskie
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EVOQ Properties, Inc. v. Maddux (In re Meruelo Maddux Properties, Inc.)

Citation: 
No. CC-12-1479-TaPaKi (9th Cir. B.A.P., April 15, 2013).
Ruling: 
Affirms ruling of the bankruptcy court on all three issues.
Judge(s): 
Taylor, Pappas, and Kirscher.
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