In re KB Toys, Inc., 470 B.R. 331 (Bankr. D. Del. 2012)
CASE SNAPSHOT
In re Qimonda Richmond, LLC, 467 B.R. 318 (Bankr. D. Del. 2012)
CASE SNAPSHOT
The Delaware District Court recently affirmed an appeal of an order denying millions of dollars in compensation to bankruptcy professionals due to certain provisions in a final debtor-in-possession (DIP) financing order. In re Barnes Bay Development Ltd. (“Barnes Bay”) was filed under Chapter 11 on March 17, 2011, case no 11-10792. On September 23, 2011, the bankruptcy court denied confirmation of the Chapter 11 plan.
The Second
Disgruntled debtors seeking to evade their obligations by filing fraudulent liens soon face new threats under Illinois law. On July 25, 2012, Governor Patrick Quinn approved and signed Senate Bill 1692, which is intended to provide additional remedies for wrongfully filed UCC liens.5 Senate Bill 1692 becomes effective January 1, 2013 and will be incorporated into section nine of the Illinois Uniform Commercial Code.
- Code Enforcement Liens: Section 73.101, Fla. Stat., entitled City to seek enforcement of its code enforcement liens by motion in condemnation action brought by City; City not required to bring separate action to enforce code enforcement liens – City of Boynton Beach v Janots, Case No. No. 4D11-2076 (Fla. 4th DCA October 10, 2012) (reversed and remanded)
1) Dev. Specialists, Inc. v. Akin Gump Strauss Hauer & Feld LLP, Case No. 1:11-cv-05995 (S.D.N.Y. May 24, 2012)
CASE SNAPSHOT
A third court confirms that settlement payments are still settlement payments and early redemptions of notes prior to maturity are exempted from preference actions.