MEMORANDUM OPINION OVERRULING OBJECTIONS TO THE AMENDED JOINT PLAN OF REORGANIZATION, CONFIRMING PLAN AND RECOMMENDING THE AFFIRMATION OF CONFIRMATION AND OF THE 524(g) INJUNCTION 1 JUDITH K. FITZGERALD, Bankruptcy Judge. Introduction Before the Court is the confirmation of The Flintkote Company ("Flintkote") and Flintkote Mines Limited's ("Mines," and collectively with Flintkote, the "Debtors") Amended Joint Plan of Reorganization (as modified November 16, 2011), docketed at Doc. No....
OPINION 1 MARY F. WALRATH, Bankruptcy Judge. Before the Court is the Objection of WMI Liquidating Trust (the "Trust"), as successor in interest to Washington Mutual, Inc. ("WMI") and WMI Investment Corp., to the proof of claim filed by the Oregon Department of Revenue ("Oregon"). For the reasons stated herein, the Court will sustain the Objection. I. BACKGROUND WMI is a bank holding company that formerly owned Washington Mutual Bank ("WMB"). By the late 1990s, WMB was using real...
OPINION 1 BRENDAN LINEHAN SHANNON, Bankruptcy Judge. Before the Court are ten motions to dismiss and supplements thereto 2 (collectively, the "Motions") filed by the Defendants 3 in Adversary Proceeding No. 11-51880. The Defendants seek dismissal of the Second Amended Complaint 4 (the "Complaint") filed by Plaintiff-Debtor Industrial Enterprises of America, Inc. ("IEAM") on January 31, 2012. IEAM opposes the Motions. The Court has conducted oral argument on all of the Motions. 5...
OPINION 1 BRENDAN LINEHAN SHANNON, Bankruptcy Judge. Before the Court is a complaint to deny discharge of debts pursuant to 11 U.S.C. 523 and 727 (the "Complaint") filed by Plaintiffs Andre Dastinot and Watchen Nelson, who are judgment creditors of James M. Kamara (the "Debtor" or "Defendant"). The Plaintiffs won a prepetition judgment in the Superior Court of Delaware against the Defendant for money owed on several agreements. 2 Following a trial on the merits, and for the reasons...
OPINION 1 BRENDAN LINEHAN SHANNON, Bankruptcy Judge. Before the Court is the Final Fee Application of CBRE Capital Advisors, Inc. ("CBRE"), 2 as financial advisor and investment banker to PJ Financing Company, LLC (the "Reorganized Debtor" and, for events prior to confirmation of the Plan, the "Debtor"). The Reorganized Debtor has filed a Limited Objection to CBRE's Final Fee Application (the "Limited Objection") 3 contending that CBRE miscalculated its fees. First, the Reorganized Debtor...
OPINION 1 SONTCHI, Bankruptcy Judge. INTRODUCTION The issue before the Court, which appears to be a matter of first impression, is what legal standard applies in a Chapter 15 case to the transfer of assets located in the United States pursuant to a "global" transaction previously approved by another Court in a foreign main proceeding. Based upon the plain meaning of the statue supported by the legislative history, this Court must review the transaction to the extent it impacts assets...
MEMORANDUM OPINION KEVIN GROSS, Bankruptcy Judge. The Debtors, Chester A. Lyn and Brenda A. Lyn (the "Lyns" or the "Debtors") filed an adversary proceeding for Declaratory Relief for Determination of Liens and to Compel Turnover of Property relating to an annuity the Debtors had signed over to Transamerica Small Business Capital, Inc. ("Transamerica") as part of a loan negotiation. In answering this complaint, Defendant, Aurora Bank FSB ("Aurora") brought certain counterclaims against the...
MEMORANDUM OPINION PETER J. WALSH, Bankruptcy Judge. This opinion concerns the motion to dismiss this adversary proceeding ("the Motion") filed by certain defendants (the "Movants"). 1 (Doc. #123.) For the reasons described below, I will deny the Motion in part and grant it in part. Background This adversary proceeding arose in the chapter 11 bankruptcy cases of DBSI, Inc. ("DBSI") and numerous of its affiliates (collectively, "Debtors"), filed in November 2008. DBSI Securities Corporation...
FINDINGS OF FACT AND CONCLUSIONS OF LAW FOLLOWING TRIAL CHRISTOPHER S. SONTCHI, Bankruptcy Judge. This matter comes before the Court following trial conducted on September 23, 2011 and concluded on October 3, 2011 (the " Trial "). After due deliberation, and sufficient cause appearing, the Court makes the following findings of fact and conclusions of law with respect to the applicability of defendant Vector Consulting, Inc.'s defenses permitted under 11 U.S.C. 547(c) (" Findings and...
MEMORANDUM OPINION 1 JUDITH K. FITZGERALD, Bankruptcy Judge. Before the court are two motions for summary judgment filed by Debtors — (1) (Doc. No. 6239) with respect to a motion for relief from stay (Doc. No. 5902) 2 filed by 8 East Frederick Place, LLC (hereafter "8 East Frederick"), 3 and (2) (Doc. No. 6240) with respect to Debtors' objection (Doc. No. 3593) and Supplemental Objection (Doc. No. 5973) to 8 East Frederick's Claim No. 2242. 4 For the reasons which follow, we will grant...
OPINION 1 SONTCHI, J. INTRODUCTION Before the Court is Plaintiff's motion for partial summary judgment. Plaintiff has brought this action against two former officers and directors of Debtor, seeking to recover payments made by Debtor to Defendants in the weeks prior to Debtor's bankruptcy from the proceeds of a settlement between Debtor and a third party. As the party requesting summary judgment Plaintiff must "put the ball in play, averring an absence of evidence to support the...
PETER J. WALSH, Bankruptcy Judge. Dear Counsel: This ruling is with respect to Kirkland & Ellis LLP`s ("K&E") motion to dismiss the Trustee's Complaint (Doc. # 10). For the reasons briefly discussed below, I will deny the motion. I believe that the decision here is squarely within the Delaware Supreme Court's ruling in Laventhol, Krekstein, Horwath & Horwath v. Tuckman , 372 A.2d 168 (Del.Supr. 1976). In order to juxtapose this matter with the Laventhol opinion, I note the following...
OPINION KEVIN GROSS, Bankruptcy Judge. INTRODUCTION 1 The Court is issuing its Opinion following a brief trial with a voluminous record of documents and deposition designations. The adversary proceeding arises from the multi-debtor Chapter 11 bankruptcy cases of Champion Enterprises, Inc., Champion Home Builders Co., Inc., (together, "Champion") and affiliated entities. The plaintiff in the adversary proceedings is the Official Committee of Unsecured Creditors ("Plaintiff" or the "...
MEMORANDUM KEVIN J. CAREY, Bankruptcy Judge. Before the Court are cross-motions for summary judgment filed by Plaintiff, The Newhall Land and Farming Company (A California Limited Partnership) 1 ("Newhall"), and Defendants American Heritage Landscape, LP and R & R Pipeline, Inc. (respectively, "AHL" and "R & R" or, jointly, the "Defendants"). Newhall asserts that the Defendants do not hold valid secured claims against the Debtors' estate, and the Defendants contend that their mechanic's...
OPINION 1 CHRISTOPHER S. SONTCHI, Bankruptcy Judge. INTRODUCTION Before the Court are a series of complaints filed by Capmark Financial Group Inc. ("CFGI") and Capmark Finance LLC ("CFI" and, collectively with CFGI, the "Plaintiffs") against an individual, Dawson Steven Lin ("Lin" or "Defendant") and a series of motions to dismiss those complaints filed by Lin. In the complaints, Plaintiffs seek to recover under federal and state fraudulent conveyance law two payments made to Lin in...
OPINION KEVIN J. CAREY, Bankruptcy Judge. Before the Court are the Defendants' motions to dismiss the above-captioned adversary proceeding with prejudice, pursuant to Rules 12(b)(1) and 12(b)(6) of the Federal Rules of Civil Procedure, and for imposition of attorneys' fees, costs, and expenses. 1 For the reasons set forth below, the motions to dismiss with prejudice will be granted for lack of subject matter jurisdiction, or, in the alternative, for failure to state a claim upon which...
OPINION 1 CHRISTOPHER S. SONTCHI, Bankruptcy Judge. INTRODUCTION Before the Court are several motions to dismiss an amended complaint filed by Triad Guaranty Insurance Co. ("Triad"), the non-debtor plaintiff. Through the Amended Complaint, and based upon non-bankruptcy law, Triad seeks to rescind insurance obligations against a defensive class that consists of all current "owners" of Triad-insured loans. This Court will dismiss Triad's post-confirmation action. As more fully detailed...
MEMORANDUM OPINION 1 MARY F. WALRATH, Bankruptcy Judge. Before the Court are the Liquidating Trustee's Motion for Partial Summary Judgment and the Motions of the Remaining Defendants to Dismiss the Complaint and for Summary Judgment on all counts related to them. For the reasons set forth below, the Court will deny the Motions. I. PROCEDURAL BACKGROUND Liberty Brands LLC (the "Debtor") was in the business of manufacturing, marketing and selling deeply discounted cigarettes in the United...
Motion for a Determination by the Bankruptcy Court as to Whether the Adversary Proceedings are Core or Non-Core, Doc. # 192 Motion for a Determination by the Bankruptcy Court as to Whether the Adversary Proceedings are Core or Non-Core, Doc. # 101 PETER J. WALSH, Banruptcy Judge. Dear Counsel: This is with respect to the motions for determination as to core or non-core proceeding. The complaint in Adv. Proc. No. 10-55592 states: "This matter is a core proceeding within the meaning of 28 U....
Motion to Transfer Venue, Doc. # 126 Motion to Transfer Venue, Doc. # 217 PETER J. WALSH, Bankruptcy Judge. Dear Counsel: This is my ruling on the above noted motions of Wavetronix LLC to transfer venue to Idaho. I am denying the motions for two significant reasons: (1) In Wavetronix v. Myers (Adv. Proc. No. 10-55592), the complaint states: "Venue is proper in this Bankruptcy Court pursuant to 28 U.S.C. 1408 and 1409." (Am. Compl., Doc. # 63, 6.) In its answer to the complaint...
