POST-TRIAL MEMORANDUM OF DECISION SEAN H. LANE , UNITED STATES BANKRUPTCY JUDGE . Before the Court is the Verified Petition and Motion seeking an Order (I) Recognizing the Dutch Bankruptcy Proceeding as the Foreign Main Proceeding for Oi Brasil Holdings Co peratief U.A. ("Coop" or the "Debtor"); (II) Recognizing the Insolvency Trustee as the Foreign Representative; (III) Modifying the Prior Recognition Order; (IV) Modifying the Prior Joint Administration Order and (V) Granting...
DECISION AND ORDER PARTIALLY GRANTING MOTION FOR ENTRY OF AN ORDER RECOGNIZING THE RUSSIAN ORDER AND ENFORCING THE AUTOMATIC STAY MARY KAY VYSKOCIL , UNITED STATES BANKRUPTCY JUDGE . This Chapter 15 case was commenced by the Verified Petition for Recognition of Foreign Main Proceeding and Motion for Order Granting Related Relief Pursuant to 11 U.S.C. 1515, 1517 and 1520 (the " Verified Petition ") [ECF No. 2]. By decision and order dated July 31, 2017, this Court found, over the...
MEMORANDUM OPINION REGARDING PLAINTIFF'S MOTIONS IN LIMINE MICHAEL E. WILES , Bankruptcy Judge . In or around 2004, Lauren Baez borrowed approximately $23,000 from Bank of America; the current loan balance is approximately $28,000. ECF No. 30 at pages 1-2 (Plaintiff's Proposed Findings of Fact). In 2016, Baez filed a voluntary chapter 7 petition and confirmed the existence of the debt on her schedules of unsecured claims. She also commenced this adversary proceeding against "National...
SIPA LIQUIDATION MEMORANDUM DECISION REGARDING MOTIONS IN LIMINE STUART M. BERNSTEIN , United States Bankruptcy Judge . Plaintiff Irving H. Picard, as trustee ("Trustee") for the liquidation of Bernard L. Madoff Investment Securities LLC ("BLMIS") under the Securities Investor Protection Act, 15 U.S.C. 78aaa et seq. ("SIPA") on the one hand, and defendants J. Ezra Merkin ("Merkin"), Gabriel Capital Corporation ("GCC"), Ascot Partners, L.P. ("Ascot Partners"), and Ascot Fund Ltd. (...
MEMORANDUM DECISION AND ORDER DENYING APPLICATION FOR UNCLAIMED FUNDS STUART M. BERNSTEIN , Bankruptcy Judge . Elmwood Vision Center, Inc. is a creditor of General Vision Services. Its dividend check was never cashed, and the amount necessary to satisfy it is currently held in the United States Treasury. Atlantis Asset Recovery LLC ("Atlantis") is the assignee of a judgment against Elmwood, and has applied to the Court for the payment of Elmwood's unclaimed dividend. For the reasons that...
ORDER DENYING EX PARTE MOTION TO FILE UNDER SEAL PORTIONS OF ITS MOTION TO SELL ITS MIDLAND CLAIMS STUART M. BERNSTEIN , Bankruptcy Judge . The debtor seeks to sell two claims pursuant to 11 U.S.C. 363(b) and (f) that have been allowed in the aggregate amount of $10 million in the liquidation proceedings of Midland Insurance Company. The debtor has filed an ex parte motion to file portions of its sale motion as well as the entire sale agreement and annexed exhibits under seal, (...
MEMORANDUM DECISION REGARDING MOTION TO ENFORCE THE SALE ORDER STUART M. BERNSTEIN , United States Bankruptcy Judge : The Debtors (collectively, "Gawker") sold substantially all of their assets to Gizmodo Media Group LLC ("Gizmodo") free and clear of all liens, claims, interests and encumbrances pursuant to Bankruptcy Code 363(f). Prior to the sale, Gawker had published an article (the "Article") on one of its websites that allegedly defamed Pregame LLC and Randall James Busack (...
ORDER REGARDING NEW OKLAHOMA CITY LEASE STUART M. BERNSTEIN , Bankruptcy Judge . The debtors seek authority to terminate their current Oklahoma City lease (the Old Lease") and to enter into a new lease at the same premises (the "New Lease") for approximately one-third of the amount of space rented under the Old Lease. The debtors also seek to seal certain information in the New Lease, although they have delivered only a redacted copy of their application and the New Lease to chambers....
DECISION DENYING MOTION IN ADVANCE OF TRIAL TO APPLY DOCTRINE OF COLLATERAL ESTOPPEL TO BAR DEFENDANT DE MENESES FROM ASSERTING DEFENSES OF VALUE AND GOOD FAITH MICHAEL E. WILES , Bankruptcy Judge . Yann Geron, the chapter 7 trustee in the case of Direct Access Partners, LLC, contends that the defendants received payments that he is entitled to recover on various grounds, including based on theories that the payments constituted intentional or constructive fraudulent transfers under...
OPINION REGARDING OBJECTIONS TO FINAL FEE APPLICATIONS OF PICK & ZABICKI LLP AND GLENN BACKER MICHAEL E. WILES , United States Bankruptcy Judge . Before the court are the final applications of Pick & Zabicki LLP (the main bankruptcy counsel to Debtor Haimil Realty Corp.) and the estate of Glenn Backer (regarding Mr. Backer's work as chief litigation attorney to Haimil) for allowance of fees and reimbursement of expenses. Pick & Zabicki seeks the final allowance of fees in the amount of $...
POST-TRIAL FINDINGS OF FACT AND CONCLUSIONS OF LAW STUART M. BERNSTEIN , United States Bankruptcy Judge : The plaintiff Jose Borges ("Borges") filed this adversary proceeding seeking a determination that the debt owed by the debtor Alfred Placeres ("Placeres") was not dischargeable under 11 U.S.C. 523(a) and Placeres was not entitled to a discharge under 11 U.S.C. 727. The Court conducted a trial on July 12, 2017, at which it heard the testimony of both parties and received numerous...
MEMORANDUM DECISION AND ORDER DENYING MOTION FOR RECONSIDERATION STUART M. BERNSTEIN , Bankruptcy Judge . Defendants David I. Lustig ("Lustig") and The Lustig Family 1990 Trust (the "Lustig Trust," and together with Lustig, the "Defendants") seek reconsideration of the Order Granting Partial Summary Judgment Striking Affirmative Defenses, dated June 12, 2017 (" Partial Summary Judgment Order ") (ECF Doc. # 83), 1 which incorporated this Court's memorandum decision in Picard v. Lustig (...
DECISION DENYING MOTION FOR PARTIAL SUMMARY JUDGMENT MARY KAY VYSKOCIL , UNITED STATES BANKRUPTCY JUDGE . On June 12, 2017 (the " Petition Date "), Opportunities II Ltd., HH HoldCo Co-Investment Fund, L.P., and Real Estate Opps Ltd. (collectively, the " Petitioning Creditors ") filed an involuntary chapter 11 petition (the " Involuntary Petition ") against Taberna Preferred Funding IV, Ltd. (" Taberna "), a structured-finance entity known as a collateralized debt obligation or a "CDO." In...
NOT FOR PUBLICATION MEMORANDUM OPINION AND ORDER GRANTING MOTION TO CONVERT CHAPTER 7 CASE TO ONE UNDER CHAPTER 11 MARTIN GLENN , Bankruptcy Judge . Pending before the Court is 2021 Grand Corp.'s (the "Debtor") Motion to Convert Chapter 7 Case to One Under Chapter 11 Pursuant to 11 U.S.C 706(a) (the "Motion," ECF Doc. # 4). The Motion is accompanied by the declaration of Eddie Sachar in Support of Debtor's Motion, as President for 2021 Grand Corp ("Sachar Declaration," ECF Doc. # 4-2)...
MEMORANDUM DECISION AND ORDER REGARDING THIRD-PARTY RELEASES UNDER THE DEBTORS' JOINT PLAN STUART M. BERNSTEIN , United States Bankruptcy Judge : On July 28, 2017, the Court confirmed the Debtors' Second Amended Joint Plan of Reorganization, dated July 20, 2017 (the " Plan "). 1 The Plan contains a broad third-party release (the "Release") in favor of numerous non-debtors, and the Releasing Parties, as defined in 1.196 of the Plan, include "all Holders of Claims entitled to vote for...
MEMORANDUM DECISION DENYING MOTION TO HOLD LIPA MEIR & CO. IN CONTEMPT AND AWARD SANCTIONS STUART M. BERNSTEIN , Bankruptcy Judge . Following the recovery of an approximate $28 million judgment against the defendants Merhav (M.N.F.) Limited ("Merhav") and Yosef A. Maiman ("Maiman" together with Merhav, "Defendants"), the plaintiff Merhav Ampal Group, Ltd. f/k/a Merhav-Ampal Energy, Ltd ("MAG" or "Plaintiff"), demanded post-judgment discovery from the Defendants. After repeated violations...
DECISION REGARDING PROPOSED CONFIDENTIALITY ORDER GOVERNING DOCUMENTS AND OTHER MATERIAL PROVIDED BY TOSHIBA CORPORATION TO THE STATUTORY UNSECURED CLAIMHOLDERS' COMMITTEE MICHAEL E. WILES , Bankruptcy Judge . On August 8, 2017, this Court entered a consent Order, in a form and substance agreed to by Toshiba Corporation (" Toshiba "), the Statutory Unsecured Claimholders' Committee (the " UCC ") and other parties, that authorized the UCC to issue deposition and document subpoenas to...
NOT FOR PUBLICATION MEMORANDUM OF DECISION AND ORDER GRANTING MOTION OF FOREIGN LIQUIDATOR FOR APPROVAL OF SETTLEMENT AGREEMENT JAMES L. GARRITY, Jr. , Bankruptcy Judge . Cinque Terre Financial Group Limited (the " Debtor ") is a company formed under the laws of the British Virgin Islands (the " BVI "). It is the subject of insolvency proceedings in the BVI and is the debtor in this chapter 15 case. Stuart MacKellar is the Debtor's BVI court-appointed liquidator (the " Liquidator ") and...
MEMORANDUM OPINION AND ORDER GRANTING PLAINTIFF'S MOTION FOR SUMMARY JUDGMENT AND DENYING DISCHARGE TO THE DEBTOR UNDER SECTION 523 OF THE BANKRUPTCY CODE MARTIN GLENN , UNITED STATES BANKRUPTCY JUDGE . Pending before this Court is the motion for summary judgment (the "Motion," ECF Doc. # 22) filed by Parklex Associates ("Parklex," or the "Plaintiff"), the Plaintiff in the above-captioned adversary proceeding (the "Adversary Proceeding"), seeking a determination that Fred Deutsch's ("...
MEMORANDUM OPINION AND ORDER GRANTING PLAINTIFFS' MOTION FOR SUMMARY JUDGMENT AND DENYING A DISCHARGE TO THE DEBTOR UNDER SECTION 523(a)(2)(A) OF THE BANKRUPTCY CODE MARTIN GLENN , UNITED STATES BANKRUPTCY JUDGE . Pending before this Court is the motion for summary judgment filed by Lupe Development Partners, LLC ("Lupe") and Steven Minn ("Minn," together with Lupe, the "Plaintiffs"), the Plaintiffs in the above-captioned adversary proceeding (the "Adversary Proceeding"), seeking a...
