Editor’s Note: On June 16, 2016, The Bankruptcy Cave gave you our summary of the controversial Sabine decision. At that time, post-hearing motions were pending.
Earlier this month, Judge Sontchi dismissed an intercreditor adversary complaint filed in 2014 by the Energy Future Holdings (“EFH”) first-lien trustee against the second-lien noteholders. At issue in this decision, Delaware Trust Co. v. Computershare Trust Co.
(E.D. Ky. Bankr. June 24, 2016)
In this Chapter 13, the bankruptcy court rules on the objection to confirmation and finds that the creditor’s expert’s valuation of the debtor’s mobile home was more reliable than the valuations provided by the debtor’s experts. The creditor’s expert testimony was not hearsay, as it was reasonable for the expert to rely on information about the particular mobile home model provided by the manufacturer. The debtor’s experts failed to obtain knowledge of the particular model before determining their values. Opinion below.
Judge: Schaaf
A recent decision from the Bankruptcy Court for the District of Delaware further puts into doubt so-called bankruptcy blocking tactics. And the opinion from In re Intervention Energy Holdings, LLC, No. 16-11247, 2016 Bankr. LEXIS 2241 (Bankr. D. Del.
Alternatives to Bankruptcy from Bankruptcy Law Specialist Christy Myatt
The general notion behind receiverships is to preserve property pending the outcome of a case, or the foreclosure of real property or such other time as the Court deems a Receiver is not required.
The Receiver is usually an unrelated third party or attorney familiar with process.
I. State Court Receiverships
A. Purpose of Receivership
A Receiver plays an important part in three common situations:
Czyzewski v. Jevic Holding Corp., No. 15-649
A Chapter 11 bankruptcy is implemented through a plan that assigns allowed claims to classes of different priority levels. Unsecured claimants without priority are not entitled to any payment on their claims until all priority claims have been satisfied.
An involuntary petition under chapter 7 of the Bankruptcy Code filed against a Mississippi casino developer was dismissed for bad faith, even though the petitioning creditors met the statutory requirements for filing the involuntary case. In In re Diamondhead Casino Corporation, the U.S.
Showtime and Top Rank Slug It out over "Fight of the Century"
Who said boxing was dead?
Fight fans still bitter over the May 2015 Floyd Mayweather–Manny Pacquiao bout that was far more mega-bore than mega-brawl may at long last get the slugfest they have been waiting for. A couple of small caveats: Mayweather has ceded the spotlight to his home television network, Pacquiao to his promotion company, and the boxing ring to a courtroom.
On June 14, 2016, Judge Thuma of the Bankruptcy Court for the District of New Mexico issued a memorandum opinion holding that a debtor could reject a prepetition settlement agreement that was determined to be executory in nature.
Reversing a bankruptcy court order in favor of the debtor, the U.S. District Court for the District of Maryland recently held that a bank that had allowed amounts to be withdrawn from a home equity credit line after the HELOC had been frozen could still recover those amounts from the debtor.
A copy of the opinion is available at: Link to Opinion.