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Spradlin v. Wrigley’s 7-711, Inc. (In re Licking River Mining, LLC)

(Bankr. E.D. Ky. June 21, 2017)

The bankruptcy court grants the defendant’s motion to dismiss the trustee’s complaint, which sought to avoid transfers from debtors to the defendant. The complaint failed to state a claim, in part because the defendant could not be deemed an “insider” of the debtor. The court additionally finds that the complaint contains insufficient facts to support various other claims. Opinion below.

Judge: Wise

Attorneys for Trustee: Bingham Greenbaum Doll LLP, Claude R. Bowles, Jr., Daniel J. Donnellon, James R. Irving, April A. Wimberg

USA, Kentucky, Insolvency & Restructuring, Litigation, Stoll Keenon Ogden PLLC
In re Pace

(B.A.P. 6th Cir. June 20, 2017)

USA, Insolvency & Restructuring, Litigation, Stoll Keenon Ogden PLLC, Sixth Circuit
Levin v. Paige (In re Stein)

(S.D. Ind. June 2, 2017)

USA, Indiana, Insolvency & Restructuring, Litigation, Stoll Keenon Ogden PLLC
Edmondson v. Gordon (In re Gordon)

(6th Cir. B.A.P. May 18, 2017)

USA, Insolvency & Restructuring, Litigation, Stoll Keenon Ogden PLLC, Sixth Circuit
Kendrick v. Rister (In re Rister)

(Bankr. E.D. Ky. May 18, 2017)

USA, Kentucky, Insolvency & Restructuring, Litigation, Stoll Keenon Ogden PLLC
Midland Funding, LLC v. Johnson

(U.S. Sup. Ct. May 15, 2017)

USA, Insolvency & Restructuring, Litigation, Stoll Keenon Ogden PLLC, Supreme Court of the United States
Stroud v. Parker (In re Parker)

(Bankr. W.D. Ky. May 12, 2017)

The bankruptcy court enters summary judgment against the debtor holding the debt nondischargeable pursuant to 11 U.S.C. § 523(a)(4). The plaintiffs inherited a judgment against the debtor that was based on the debtor’s theft of the decedent’s property. The plaintiffs were the proper parties to bring the claim, as the decedent’s estate assigned the judgment to them, and the requirements of § 523(a)(4) were satisfied. Opinion below.

Judge: Lloyd

Attorneys for Plaintiffs: Crain – Schuette Attorneys, Amanda Lisenby Blakeman

USA, Kentucky, Insolvency & Restructuring, Litigation, Stoll Keenon Ogden PLLC
Nicholson v. Hyundai Capital America, Inc.

(W.D. Ky. May 2, 2017)

USA, Insolvency & Restructuring, Litigation, Stoll Keenon Ogden PLLC
Belgium: Borrowing base lending under the Belgian Security over Movables Act

The Belgian Act of 11 July 2013 on security over movables (the “Security over Movables Act”) will modernise Belgium’s legislation in respect of security over movables. Most notably, the Security over Movables Act is expected to have a particularly beneficial effect on borrowing base/asset-based lending in Belgium.

Under the current legislation, the creation of a possessory pledge (vuistpand/gage avec dépossession) is subject to various restrictions. For example:

Belgium, Asset Finance, Banking, Insolvency & Restructuring, Baker McKenzie
Town Center Flats, LLC v. ECP Commercial II LLC (In re Town Center Flats, LLC)

(6th Cir. May 2, 2017)

The Sixth Circuit reverses the bankruptcy court, finding that the assignment of rents acted as a complete transfer of ownership and the assignor did not retain any interest in the rents. The court analyzes Michigan law on such assignments and concludes that because the debtor/assignor had no rights in the rents assigned, they were not property of the bankruptcy estate. Opinion below.

Judge: Stranch

Attorney for Appellant: Robert N. Bassel

Attorney for Appellee: Jeremy S. Friedberg

USA, Insolvency & Restructuring, Litigation, Stoll Keenon Ogden PLLC, Sixth Circuit