Yesterday, the bankrupt estate of Lehman Brothers Holdings, Inc. (Lehman) sued Barclays Capital, Inc.
On November 12th, the Third Circuit affirmed both bankruptcy and district court findings that, under the Rooker-Feldman doctrine, federal courts lacked subject matter jurisdiction over a claim seeking rescission of a mortgage filed in an adversarial action in federal bankruptcy court after a state court entered a default foreclosure order on that mortgage. The Third Circuit held further that the entry of summary judgment against plaintiff on her Truth in Lending Act claim was proper.
Masuda Funai routinely represents creditors in bankruptcy proceedings in order to protect their contractual and legal interests and rights to payment. The following is a list of some recent larger U.S. bankruptcy filings in various industries. To the extent you are a creditor to any of these debtors, or other entities which may have filed for bankruptcy protection, you as a creditor are entitled to certain protections under the Bankruptcy Code.
AUTOMOTIVE
Retail Seminar Business In re Telligenix Corporation (Bankr. M.D. Fla.) Case no. 09-15238
Gordon W. Shaw Properties, Inc. recently filed for Chapter 11 bankruptcy, and, although no sale has been announced, the Debtor’s assets may be available for acquisition under the right circumstances. The Debtor owns real property consisting of four parcels located at 19782 Golden State Boulevard in Madera, California, valued at $8.7 million. The total acreage of the property is 463, with 455 of the acres planted as an 11-year-old grade vineyard. The Debtor’s personal property includes wells and the pumps for the wells valued at $239,694.
Mammoth Corona I, LLC recently filed for Chapter 11 bankruptcy, and, although no sale has been announced, the Debtor’s assets may be available for acquisition under the right circumstances. The Debtor’s real property consists of a commercial, three-story office building located at 4740 Green River Road in Corona, California, valued at $17 million. The Debtor’s rental income for 2007 was $18,909; for 2008 it was $117,635; and for 2009 it was $304,009.
Filing a successful proof of claim is the key to unlocking a creditor's right to recover against a debtor in bankruptcy. Only in limited circumstances may a creditor recover against the debtor's estate without properly filing a proof of claim. This article addresses the various stages of filing, attacking and defending a proof of claim.
Charter Communications stepped closer to emerging from Chapter 11 protection as a New York bankruptcy judge approved the company’s pre-arranged plan of reorganization on Tuesday. Based in St. Louis, Charter ranks as the nation’s fourth largest cable system operator with 4.9 million subscribers across 27 states. Straining under a debt load of $21.7 billion, Charter filed for bankruptcy protection in March after bondholders in possession of $8 billion of the company’s debt agreed to exchange their debt for equity in the reorganized entity. The plan endorsed by U.S.
Lilburn Marketplace, LLC recently filed for Chapter 11 bankruptcy, and, although no sale has been announced, the Debtor’s assets may be available for acquisition under the right circumstances. The Debtor is engaged in the business of operating a commercial shopping center and currently has unexpired leases with nine tenants. The Debtor’s real property is a commercial shopping center located at 4805 Lawrenceville Highway in Lawrenceville, Georgia, valued at $12,864,695. The Debtor’s personal property includes accounts receivable of approximately $220,000.
CIT Group Inc.