OPINION RE: LIEN PRIORITY RANDOLPH J. HAINES, Bankruptcy Judge. The issue here is whether various mechanics' lien claimants, who claim priority dating from the commencement of construction in October, 2005, have priority over a construction deed of trust that was recorded in May of 2007. The lender, Mortgages, Ltd., maintains that even if there is but a single project or "work," a mechanics' lien has priority only dating from the general contract for which the work was performed (the "...
MEMORANDUM DECISION RE: DEBTOR'S OBJECTION TO MIDFIRST BANK'S PROOF OF CLAIM SARAH SHARER CURLEY, Bankruptcy Judge. I. INTRODUCTION This matter comes before the Court on the Debtor's "Fifth Omnibus Objection to MidFirst Bank's Proof of Claim" ("Claim Objection") filed on January 25, 2012. MidFirst Bank, a Federally Chartered Savings Association ("MidFirst") filed a Response on March 7, 2012. An initial hearing on the matter was held on March 7, 2012. MidFirst filed a Supplemental Response on...
AMENDED OPINION DENYING DESIGNATION OF VOTE RANDOLPH J. HAINES, Bankruptcy Judge. A secured creditor has moved to "designate," or disqualify, another secured creditor's acceptance of the plan of reorganization, pursuant to Bankruptcy Code 1126(e), 1 alleging that the acceptance was not in good faith. The Court denies the motion as untimely and moot and because there is no evidence the vote was cast out of malice, for any improper purpose, or for any reason other than enlightened self-...
OPINION RE: TURNOVER OF RETAINERS RANDOLPH J. HAINES, Bankruptcy Judge. The threshold issue here, and perhaps the only issue, is when does a retainer become the attorney's money instead of the client's. This matter comes before the Court on the Chapter 7 1 Trustee's Motion to Compel Turnover, and the response filed by Jennings, Strouss, & Salmon, P.L.C. ("JSS"). The Trustee has requested an order from the Court compelling turnover of the pre-petition retainers paid to both JSS and also the...
MEMORANDUM DECISION JAMES M. MARLAR, Chief Bankruptcy Judge. Before the court is a controversy which requires interpretation of the Debtors' confirmed plan, and based upon such interpretation, the court must determine whether the Debtors defaulted thereunder, or if some other just remedy may be applicable. PROCEDURAL HISTORY 1. In General The Debtors filed an individual Chapter 13 case on October 19, 2009. It was converted to a Chapter 11 case on December 1, 2009. Included in their...
ORDER ROBERT C. BROOMFIELD, Senior District Judge. Background In this securities fraud action, lead plaintiff, Pension Trust Fund for Operating Engineers ("plaintiff"), commenced this action against Apollo Group, Inc. ("Apollo"), and various Apollo officers and directors ("the individuals"). 1 In an effort to satisfy the rigorous pleading standards of the Private Securities Litigation and Reform Act ("PSLRA") and Fed.R.Civ.P. 9(b), plaintiff has made literally hundreds of pages of...
ORDER DENYING JPMCC 2007-C1 GRASSLAWN LODGING, LLC MOTION FOR RELIEF FROM THE AUTOMATIC STAY EILEEN W. HOLLOWELL, Bankruptcy Judge Pursuant to the Court's ruling in open court on December 16, 2011, the " Motion for Relief from the Automatic Stay Under 11 U.S.C. Sections 362(d)(1)-(3) or, in the Alternative, Motion for (1) Dismissal Under 11 U.S.C. Section 1112(b) or (2) the Appointment of an Examiner Under 11 U.S.C. Section 1104" [DE # 190], filed by JPMCC 2007-C1 Grasslawn Lodging, L.L.C....
MEMORANDUM DECISION JAMES M. MARLAR, Chief Bankruptcy Judge. On January 11, 2012, this court heard evidence concerning the fair market value of the Debtor entity's apartment complex. This hearing was necessary in order to establish value, for purposes of formulating a reorganization plan and assessing its feasibility in light of the valuation. 11 U.S.C. 506. This is an involuntary case, filed October 13, 2010, by a group of creditors. The real property at issue is a 107-unit apartment...
