MEMORANDUM DECISION AND ORDER REGARDING EXPERIENCE RATINGS STUART M. BERNSTEIN , United States Bankruptcy Judge : By order dated December 1, 2014, the District Court remanded this matter to this Court to interpret the Sale Order 1 pursuant to which the debtors (collectively, "Old Chrysler") sold substantially all of their assets to their Purchaser ("New Chrysler"). See In re Old Carco LLC, No. 14-CV-2225 (JMF), 2014 WL 6790781 (S.D.N.Y. Dec. 1, 2014) (" Chrysler II "). Specifically,...
NOT FOR PUBLICATION MEMORANDUM DECISION GRANTING IN PART AND DENYING IN PART THE TRUSTEE'S MOTION FOR SUMMARY JUDGMENT CECELIA G. MORRIS , Bankruptcy Judge . Before the Court is the Trustee's Motion for Summary Judgment (the "Trustee's Motion" or "Motion") on his fifth cause of action in the adversary proceeding against Alexander Gellatly ("Gellatly") and M.E.-R.E. Holding, LLC 1 ("Holding"). See Compl., Oct. 22, 2014, ECF No. 1. 2 The Trustee's fifth cause of action "demands...
MEMORANDUM DECISION GRANTING PLAN ADMINISTRATOR'S MOTION FOR SUMMARY JUDGMENT REGARDING CLAIM 67707 FILED BY SPANISH BROADCASTING SYSTEM, INC. SHELLEY C. CHAPMAN , UNITED STATES BANKRUPTCY JUDGE . Before the court is the Motion of Lehman Brothers Holdings Inc. ("LBHI"), as Plan Administrator under the Modified Third Amended Joint Chapter 11 Plan of Lehman Brothers Holdings Inc. and its Affiliated Debtors, for Summary Judgment Regarding Claim 67707 Filed by Spanish Broadcasting System, Inc....
MEMORANDUM DECISION SHELLEY C. CHAPMAN , UNITED STATES BANKRUPTCY JUDGE . TABLE OF CONTENTS BACKGROUND ... 21 A. The Terms of the Federation Notes and the Portfolio Swap ... 22 1. Economic Terms ... 22 2. Unwinding the Federation Notes Upon Early Termination of the Portfolio Swap... 24 3. Applicable Law... 24 B. The Custodian Business of ANZ Bank and ANZ Nominees and Their Involvement as Custodian for Certain Federation Notes... 25 1. The Custodian Business ... 25 2. The...
MEMORANDUM OPINION AND ORDER SEAN H. LANE , UNITED STATES BANKRUPTCY JUDGE . Before the Court is the motion of 1279 St. John's Place, LLC (the "Movant") to lift the automatic stay pursuant to Section 362(d)(1) of the Bankruptcy Code (the "Lift Stay Motion") [ECF No. 40] as to three properties located at 551 Knickerbocker Avenue, Brooklyn, N.Y. (the "Brooklyn Property"), 1320 East 222 Street, Bronx, N.Y. (the "Bronx Property"), and N/A East 222 Street, Block and Lot 4730/7, Bronx, N.Y. (...
MEMORANDUM OPINION AND ORDER SEAN H. LANE , Bankruptcy Judge . Before this Court is a motion by plaintiff Brian Binder ("Binder" or the "Plaintiff") seeking liquidated damages for a breach of contract by defendants SE Opportunity Fund LP, Seth Miller, Seymour Hurwitz, and Steven Etkind (collectively, the "Defendants"). Previously, this Court found that the Defendants breached the contract at issue, and granted the Plaintiff specific performance of the contract. In re 553 West 174th LLC,...
MEMORANDUM OF DECISION AND ORDER SEAN H. LANE , Bankruptcy Judge . Before the Court are two motions: Be My Guest LLC's ("BMG") Motion to Allow for Limited Relief from the Order Pursuant to Bankruptcy Rule 9024 ("BMG's Motion") (ECF No. 68) and 8 West 58 th Street Hospitality LLC's (the "Debtor") Motion to Compel Compliance with Order Approving Plan Funding Agreements ("Debtor's Motion to Compel") (ECF No. 76). The Court preliminarily denied BMG's Motion and granted in part the Debtor's...
MEMORANDUM DECISION GRANTING MOTION TO VACATE RULE B ATTACHMENTS MICHAEL E. WILES , Bankruptcy Judge . The foreign representative of Daebo International Shipping Co., LTD has asked the Court to vacate maritime attachments made against the M/V DAEBO TRADER in Louisiana. The parties agree that a Korean court issued an order, before the attachments were made, that stayed creditors from attaching assets of Daebo. The creditors argue that the attachments and the creditors' claims are really...
MEMORANDUM OPINION MICHAEL E. WILES , Bankruptcy Judge . The Court held a trial on October 28 and 29, 2015, and finds that Plaintiff Robert L. Geltzer, as chapter 7 trustee of Starr & Company, LLC, is entitled to judgment against Defendants Harold Evans and Tina Brown jointly and severally in the amount of $25,560.18, representing a debt in the amount of $20,343.36 plus prejudgment interest from September 9, 2013 through December 15, 2015 in the amount of $5,216.82. Nature of the Case...
DECISION GRANTING MOTION TO DISMISS WITHOUT PREJUDICE APPEARANCES: MICHAEL E. WILES , UNITED STATES BANKRUPTCY JUDGE . Whitaker Securities LLC claims that it suffered losses because its former employee, debtor Evan Rosenfeld, made unsuitable and unauthorized securities trades for customers. Whitaker argues that its claims to recover the losses from Rosenfeld are excepted from discharge in Rosenfeld's chapter 7 case. Rosenfeld has moved to dismiss Whitaker's nondischargeability Complaint....
MEMORANDUM DECISION GRANTING MOTION TO VACATE RULE B ATTACHMENTS MICHAEL E. WILES , UNITED STATES BANKRUPTCY JUDGE . The foreign representative of Daebo International Shipping Co., LTD has asked the Court to vacate maritime attachments made against the M/V DAEBO TRADER in Louisiana. The parties agree that a Korean court issued an order, before the attachments were made, that stayed creditors from attaching assets of Daebo. The creditors argue that the attachments and the creditors' claims...
REPORT AND RECOMMENDATION ON AMES' MOTION TO CONFIRM EXCLUSIVE JURISDICTION ROBERT E. GERBER , Bankruptcy Judge . In this adversary proceeding under the umbrella of the chapter 11 cases of Ames Department Stores, Inc. (" Ames ") and its affiliates, the district court has directed me 1 to provide a report and recommendation on the resolution of Ames' motion for an order confirming that the bankruptcy court (and hence the district court) has exclusive jurisdiction to hear this adversary...
MEMORANDUM OPINION DENYING DEBTOR'S MOTION TO REVOKE CONFIRMATION ORDER MICHAEL E. WILES , Bankruptcy Judge . Ridgewood Realty of L.I. Inc. (the "Debtor") has filed a motion to revoke the Order [ECF No. 207] by which this Court confirmed a plan of reorganization filed by SAC427 111414 LLC ("SAC"). The Debtor alleges that SAC transferred ownership of the underlying secured note and mortgage to another entity in February 2015, and that SAC therefore lacked standing to propose and to...
MEMORANDUM OPINION AND ORDER DENYING THE MOTION OF THE RESCAP LIQUIDATING TRUST FOR AN ORDER ENFORCING PLAN INJUNCTION AND CONFIRMATION ORDER MARTIN GLENN , UNITED STATES BANKRUPTCY JUDGE . Pending before the Court is the Motion of the ResCap Liquidating Trust for an Order Enforcing Plan Injunction and Confirmation Order (the "Motion," ECF Doc. # 8947) filed by the ResCap Liquidating Trust (the "Trust"), as successor to Residential Funding Company, LLC ("RFC"). The Trust seeks to...
MEMORANDUM DECISION GRANTING TRUSTEE'S MOTION FOR ORDER EXPUNGING FIRSTBANK PUERTO RICO'S CLAIM AND DENYING FIRSTBANK PUERTO RICO'S MOTION FOR SUMMARY JUDGMENT SHELLEY C. CHAPMAN , Bankruptcy Judge . FirstBank Puerto Rico seeks the assistance of this Court in securing the return of certain securities pledged to Lehman Brothers Special Financing Inc. in connection with a routine interest rate swap agreement. Many of those securities ultimately were sold to Barclays Capital Inc. as part of...
DECISION ON MOTIONS TO DISMISS AMENDED INTENTIONAL FRAUDULENT TRANSFER CLAIMS, ET AL. ROBERT E. GERBER , UNITED STATES BANKRUPTCY JUDGE : In late December 2007, Basell AF S.C.A. ( "Basell" ), a Luxembourg entity controlled by Leonard Blavatnik ( "Blavatnik" ), acquired Lyondell Chemical Company ( "Lyondell" ), a Delaware corporation headquartered in Houston — forming a new company after a merger (the "Merger" ), LyondellBasell Industries AF S.C.A. (as used by the parties, "LBI," or here,...
NOT FOR PUBLICATION MEMORANDUM OPINION AND ORDER GRANTING MOTION TO DISMISS CHAPTER 11 CASE AND DENYING MOTION TO LIFT STAY MARTIN GLENN , Bankruptcy Judge . Pending before the Court is the Motion for an Order Dismissing the Debtor's Bankruptcy Petition (the "Dismissal Motion," ECF Doc. # 7-1), filed by 750 Food LLC ("750 Food"). The debtor, Pasta Bar by Scotto II, LLC (the "Debtor"), is a New York Limited Liability Company ("LLC"). It is undisputed that John Scotto "Scotto"), the...
POST-REMAND MEMORANDUM DECISION REGARDING DISCHARGEABILITY OF DEBT UNDER 11 U.S.C. 523(a)(6) AND INDEMNIFICATION UNDER NEW YORK INSURANCE LAW 3420 STUART M. BERNSTEIN , United States Bankruptcy Judge : This matter comes before the Court on remand from the District Court, see Margulies v. Hough ( In re Margulies ), 517 B.R. 441 (S.D.N.Y.2014) ( "District Court Decision" ), which vacated this Court's post-trial findings of fact and conclusions of law in Hough v. Margulies ( In re...
MEMORANDUM OPINION AND ORDER SUSTAINING DEBTORS' OBJECTIONS TO THE CLAIMS OF BREEZECOM FZC, CALL MY WAY NY S.A., SMARTBOX EQUIPMENT, SAMITEL LIMITED, TELECAM/IP NETWORK OF THE AMERICAS INC., AMERICATEL PERU, S.A., WORLDWIDE TELECOM XCHANGE CARRIER FZ LLC, AND MAXCOM TELECOMINICACIONES S.A.B. DE C.V. MARTIN GLENN , UNITED STATES BANKRUPTCY JUDGE . Pending before the Court are objections to claims (each a "Claim," and collectively the "Claims") filed by Vivaro Corporation, STi Prepaid, LLC,...
DECISION ON IMPUTATION, PUNITIVE DAMAGES, AND OTHER NO-STRIKE AND NO-DISMISSAL PLEADINGS ISSUES ROBERT E. GERBER , UNITED STATES BANKRUPTCY JUDGE : Table of Contents Findings of Fact...109 1. Background...109 2. Facts Relevant to Imputation...110 3. Facts Relevant to Punitive Damages...111 The Bankruptcy Court's Role on These Motions...113 Discussion...113 I. The Imputation Issue...114 II. The Punitive Damages Issue...116 A. The Post-Closing Accident Plaintiffs' Three Pathways......
