Chapter 11 MEMORANDUM OF DECISION ALLAN L. GROPPER, United States Bankruptcy Judge Introduction Defendant Christopher Edward Barish ("Barish") has moved to dismiss the Chapter 7 Trustee's Amended Complaint ("Amended Complaint") [ECF No. 13] asserting claims of fraudulent transfer under the Bankruptcy Code and the New York Debtor and Creditor Law. For the reasons set forth below, the motion to dismiss is granted. Facts The facts of the case are taken from the allegations of the Amended...
Chapter 7 MEMORANDUM DECISION GRANTING OBJECTION TO HOMESTEAD EXEMPTION AND DENYING MOTION TO AVOID JUDICIAL LIEN CECELIA G. MORRIS, CHIEF UNITED STATES BANKRUPTCY JUDGE Debtor's former attorney and the holder of a judicial lien against real property that Debtor claims as her residence opposed Debtor's motion to avoid his judicial lien and objected to Debtor's use of the homestead exemption. Debtor is not residing in the property upon which she claimed a homestead exemption and evidence...
Chapter 13 MEMORANDUM DECISION GRANTING OBJECTION TO CONFIRMATION CECELIA G. MORRIS, CHIEF UNITED STATES BANKRUPTCY JUDGE Introduction The chapter 13 trustee objects to confirmation, arguing that the Debtors' plan must step-up plan payments to account for the repayment of a 401(k) loan during the life of the plan. Debtors argue that their chapter 13 plan can contain a "cushion" for unexpected expenses. The Court sustains the trustee's objection and denies confirmation. Jurisdiction This...
Chapter 7 MEMORANDUM OF DECISION SEAN H. LANE, UNITED STATES BANKRUPTCY JUDGE Before the Court is a motion (the "Motion") by Defendant WWRD US, LLC ("WWRD") seeking summary judgment on the fraudulent conveyance claim asserted against WWRD under 11 U.S.C. 548 by John S. Pereira (the "Trustee"), as Chapter 7 Trustee for Waterford Wedgwood USA Inc., Royal Doulton USA, Inc., Kilbarry Inc., Waterford Wedgwood Partners, Waterford Wedgwood, Inc., Waterford Wedgwood Holdings, Inc., WW Inc.,...
BENCH MEMORANDUM SUSTAINING THE CHAPTER 7 TRUSTEE'S OBJECTION TO CLAIM NUMBER 4 FILED BY CLIFFORD JACKMAN BURTON R. LIFLAND, Bankruptcy Judge. Before the Court is the objection (the "Objection") of Angela Tese-Milner (the "Trustee"), Chapter 7 trustee for the estate of Maria Aiolova (the "Debtor" or "Aiolova"), to proof of claim number 4 (the "Claim") filed by Clifford Jackman ("Jackman") asserting an unsecured claim of $434,907 on account of mortgage payments and other expenses made in...
MEMORANDUM OF DECISION AND ORDER ALLAN L. GROPPER, Bankruptcy Judge. Introduction Defendants have moved to dismiss on statute of limitations grounds the above-captioned adversary proceeding asserting claims of breach of fiduciary duty, conversion, and breach of contract. For the reasons set forth below, the motion to dismiss is granted in part and otherwise converted to a motion for summary judgment pursuant to Federal Rule of Civil Procedure 12(d), made applicable by Bankruptcy Rule 7012....
MEMORANDUM OF DECISION ALLAN L. GROPPER, Bankruptcy Judge. INTRODUCTION Before the Court is the objection of creditor Plaintiff Funding Holding, Inc. ("Objectant") to the Debtors' Joint Amended Plan of Reorganization ("Plan"). Objectant argues that the Plan violates 1129(a)(15) of the Bankruptcy Code in that the value of the property distributed to unsecured creditors is less than the Debtors' projected disposable income. For the reasons set forth below, the Objection is overruled, and...
Chapter 13 MEMORANDUM DECISION DENYING DEBTOR'S MOTION TO BIFURCATE OCWEN'S FIRST MORTGAGE LIEN CECELIA G. MORRIS, CHIEF UNITED STATES BANKRUPTCY JUDGE Introduction Before the Court is a motion to bifurcate a first mortgage lien on real property that the debtor argues is not his principal residence. The mortgage holder counters by arguing that the real property is the debtor's principal residence. The Court agrees with the mortgage holder. Most persuasive is the fact that the debtor opted...
NOT FOR PUBLICATION MEMORANDUM OF DECISION SEAN H. LANE, Bankruptcy Judge. Before the Court is a motion for summary judgment filed by plaintiff Eugene I. Davis as Litigation Trustee for the Quebecor World Litigation Trust (the "Trustee") in the above captioned adversary proceeding. The Trustee seeks to avoid and recover a single alleged preferential transfer totaling $109,500.00 (the "Transfer") made by the Debtors to Binswanger Corporate Services, Inc. ("Binswanger") during the 90 day...
Chapter 11 BENCH MEMORANDUM AND ORDER FINDING THE BONDHOLDERS LACK STANDING TO PARTICIPATE IN THESE CHAPTER 11 PROCEEDINGS Burton R. Lifland, United States Bankruptcy Judge Before the Court is the threshold issue of whether the ad hoc committee of bondholders (the "Bondholders"), consisting of the holders of $162.5 million in principal amount of certain senior secured bonds (the "Bonds") issued by American Roads LLC ("American Roads", and together with its affiliated debtors, the "Debtors"),...
Chapter 11 MEMORANDUM OF DECISION AND ORDER ALLAN L. GROPPER, UNITED STATES BANKRUPTCY JUDGE. Introduction Debtor Eastman Kodak Company ("Kodak") has moved to assign a ground lease that it previously assumed on August 15, 2012 (the "Motion"). The lease has a prohibition against assignment without the consent of the lessor, and the lessor, ITT Space Systems, LLC ("ITT"), opposes the assignment on the sole ground that Kodak cannot rely on its rights as a debtor to override the anti-...
NOT FOR PUBLICATION MEMORANDUM OPINION AND ORDER GRANTING DEFENDANTS' MOTION TO DISMISS THE SECOND AMENDED COMPLAINT MARTIN GLENN, Bankruptcy Judge. Pending before the Court is MF Global Holdings Ltd., MF Global Holdings USA, Inc., and MF Global Finance USA, Inc.'s Motion to Dismiss Second Amended Class Action Adversary Proceeding Complaint ("Motion," ECF Doc. # 67). The Plaintiffs filed their opposition (ECF Doc. # 70), and the Defendants filed a reply (ECF Doc. # 72). The Court heard...
MEMORANDUM OF DECISION ON REMAND ON STATEK'S MOTION FOR RECONSIDERATION OF CLAIM DISALLOWANCE ORDER ROBERT D. DRAIN, Bankruptcy Judge. Procedural History Statek Corporation ("Statek") filed a proof of claim in this case, Claim 239 (the "Claim"), to which the debtor, Coudert Brothers LLP ("Coudert") obejected. 1 After briefing and a hearing, this Court issued an order on July 21, 2009 disallowing the Claim (the "Claim Disallowance Order"), holding that New York's choice of law rules and New...
Chapter 7 MEMORANDUM DECISION AND ORDER (I) GRANTING TRUSTEE'S MOTION FOR SUMMARY JUDGMENT PURSUANT TO BANKRUPTCY RULE 7056 AND (II) DENYING THE REQUEST OF THE TRUSTEE AND CHASE FOR SANCTIONS AGAINST JACKMAN Burton R. Lifland, United States Bankruptcy Judge. Before the Court is the motion for summary judgment (the "Motion") pursuant to Federal Rule of Civil Procedure ("Rule") 56(c), made applicable herein by Federal Rule of Bankruptcy Procedure ("Bankruptcy Rule") 7056, of Angela Tese-...
MEMORANDUM DECISION CONFIRMING THE TRUSTEE'S DETERMINATION OF CLAIMS RELATING TO REPURCHASE AGREEMENTS JAMES M. PECK, United States Bankruptcy Judge Introduction The contested matter before the Court is the latest in a series of similar proceedings brought by James W. Giddens (the "Trustee") to advance the process of case administration by seeking judicial approval of his determinations that certain categories of claims do not satisfy the definition of customer claims in this case. The...
MEMORANDUM DECISION SANCTIONING HUDSON CITY SAVINGS BANK FOR FAILURE TO PARTICIPATE IN GOOD FAITH IN LOSS MITIGATION CECELIA G. MORRIS, Chief Judge. On December 27, 2012, this Court signed an Order to Show Cause directing Hudson City Savings Bank to appear before the Court and show cause why it should not be sanctioned for failing to participate in good faith in the ongoing Loss Mitigation proceeding. As directed, Hudson City Savings Bank appeared on February 27, 2013 and informed the Court...
MEMORANDUM DECISION AND ORDER DENYING SURABIANS' (I) VACATE MOTION, (II) LATE OPPOSITION MOTION, (III) MADOFF SUBPOENA MOTION, AND (IV) RECORDS SUBPOENA MOTION BURTON R. LIFLAND, Bankruptcy Judge. Before the Court are four motions (the "Motions") of Martin M. Surabian, Richard Surabian, and Steven Surabian (the "Surabians"), which they have combined and styled with questionable interrelatedness, to: (I) Vacate Order and Judgment of Trustee's Third Omnibus Motion to Expunge Claims and...
MEMORANDUM OF DECISION SEAN H. LANE, Bankruptcy Judge. Before the Court is a motion (ECF No. 11) (the "Motion") by the Debtors (the "Debtors" or "American"), seeking to dismiss Plaintiffs' complaint (the "Complaint") filed in the above-captioned adversary proceeding (the "Adversary Proceeding"). Debtors allege that Plaintiffs' claims are precluded under the doctrine of res judicata because of a prior settlement and court order resolving such claims and releasing American from any liability...
MEMORANDUM DECISION SEAN H. LANE, Bankruptcy Judge. Before the Court is the Motion of Ronald A. Katz Technology Licensing, L.P. for an Order Deeming its Proof of Claim Timely Filed Pursuant to Rule 9006(b)(1) of the Federal Rules of Bankruptcy Procedure and Section 105(a) of the Bankruptcy Code (ECF No. 5215) (the "Motion"). Movant asserts that it did not receive actual notice of the bar date setting the deadline for filing claims in the above-captioned Chapter 11 cases, and therefore the...
MEMORANDUM OF DECISION ALLAN L. GROPPER, Bankruptcy Judge. Before the Court is the motion (the "Motion") of the Official Committee of Unsecured Creditors (the "Committee") for a declaration that the prepetition senior noteholders (the "Secured Noteholders") were not granted a lien on certain assets of Debtor K-V Discovery Solutions, Inc. 1 The present dispute involves the rights that the Secured Noteholders have under $225 million in Senior Secured Notes (the "Notes"). The Secured...
