AMENDED ORDER ON DEUTSCHE 7ZENTRALGENOSSENSCHAFTBANK AG DEFENDANTS' FED. R. CIV. P. 12(c) MOTION FOR JUDGMENT ON THE PLEADINGS KATHLEEN H. SANBERG , Bankruptcy Judge . This adversary proceeding was commenced by Douglas A. Kelley, in his capacity as the court-appointed Chapter 11 Trustee of Debtors Petters Company, Inc.; PC Funding, LLC; and SPF Funding, LLC, (collectively "Plaintiff") in the Chapter 11 cases of Petters Company, Inc., and related entities. The history of Tom Petters' Ponzi...
AMENDED ORDER ON DEUTSCHE ZENTRALGENOSSENSCHAFTBANK AG DEFENDANTS' FED. R. CIV. P. 12(c) MOTION FOR JUDGMENT ON THE PLEADINGS KATHLEEN H. SANBERG , CHIEF UNITED STATES BANKRUPTCY JUDGE . This adversary proceeding was commenced by Douglas A. Kelley, in his capacity as the court-appointed Chapter 11 Trustee of Debtors Petters Company, Inc.; PC Funding, LLC; and SPF Funding, LLC, (collectively "Plaintiff") in the Chapter 11 cases of Petters Company, Inc., and related entities. The history...
ORDER ON OPPORTUNITY FINANCE DEFENDANTS' MOTION FOR DISMISSAL & REMAINING UNIQUE ISSUES KATHLEEN H. SANBERG CHIEF UNITED STATES BANKRUPTCY JUDGE . This adversary proceeding is part of the Chapter 11 cases of Petters Company, Inc., and related entities. The history of these cases is well documented and, for the sake of brevity, will not be repeated here. 1 The Opportunity Finance defendants, 2 as well as WestLB 3 and the Minneapolis Foundation, filed Motions to Dismiss containing...
MEMORANDUM DECISION Michael E. Ridgway United States Bankruptcy Judge . The matter pending before the Court involves an adversary proceeding brought by Randall L. Seaver, the chapter 7 trustee ("trustee"), against the defendant ("Ms. Glasser" or the "defendant"), in the form of an avoidance action to avoid and recover for the benefit of the bankruptcy estate, under 11 U.S.C. 547(b) and 550, respectively, a transfer in the amount of $205,444.45, as well as to avoid, under MINN. STAT....
MEMORANDUM DECISION AND ORDER FOR JUDGMENT Michael E. Ridgway , United States Bankruptcy Judge . At Minneapolis, Minnesota, September 9, 2016. The matter pending before the Court is the Plaintiff's motion for summary judgment. The Court heard oral argument on August 11, 2016. Matthew D. Swanson, Esq., appeared on behalf of the Plaintiff (the "Trustee" or the "Plaintiff"); David C. Olson, Esq., appeared on behalf of the Defendant ("Lindback" or the "Defendant"). The Court requested and...
MEMORANDUM DECISION Michael E. Ridgway , United States Bankruptcy Judge . The matters pending before the Court involve an adversary proceeding brought by the United States Trustee ("UST"), in the form of several objections to the Debtors' discharge under 11 U.S.C. 727 ("727 trial"), 1 and a challenge by the chapter 7 trustee ("Trustee") to the Debtors' claimed homestead exemption under 11 U.S.C. 522(o) ("exemption trial"). 2 Although separate trials were held on the respective...
MEMORANDUM AND ORDER DENYING SUBSTANTIVE CONSOLIDATION Robert J. Kressel , United States Bankruptcy Judge . This chapter 11 case came on for hearing on the motion of the unsecured creditors committee to substantively consolidate the debtor and over 200 Catholic nonprofit, non-debtor entities. Edwin H. Caldie and Robert T. Kugler appeared on behalf of the unsecured creditors committee. Richard D. Anderson and Benjamin E. Gurstelle appeared on behalf of the debtor. Dennis D. O'Brien...
MEMORANDUM RE: EFFECT OF FINN V. ALLIANCE BANK ON PLAINTIFF'S CLAIMS OF FRAUDULENT TRANSFER GREGORY F. KISHEL , CHIEF UNITED STATES BANKRUPTCY COURT INTRODUCTION The origin of this adversary proceeding is amply familiar from locally-generated case law. E.g., In re Petters Co., Inc., 401 B.R. 391 (Bankr.D.Minn.2009), aff'd, 620 F.3d 847 (8th Cir.2010); In re Petters Co., Inc., 440 B.R. 805 (Bankr.D.Minn.2010); In re Petters Co., Inc., 506 B.R. 784 (Bankr.D.Minn.2013);...
ORDER ALLOWING EXEMPTION ROBERT J. KRESSEL , UNITED STATES BANKRUPTCY JUDGE . This case came on for hearing on the trustee's objection to the debtor's claimed homestead exemption. Matthew D. Swanson appeared for the trustee, Randall L. Seaver, and Andrew C. Walker appeared for the debtor. The court has jurisdiction over this proceeding under 28 U.S.C. 157(b)(1) and 1334. This is a core proceeding under 28 U.S.C. 157(b)(2)(B). For the reasons stated below, the trustee's objection is...
MEMORANDUM DECISION AND ORDER MICHAEL E. RIDGWAY , Bankruptcy Judge . At Minneapolis, Minnesota, March 8, 2016. The matter before the Court arises from the objection of Linn Grove Angel Fund LP ("Linn Grove") to the trustee's final report. The chapter 7 trustee ("trustee"), Brian Leonard, filed a response to Linn Grove's objection, as did Marshall Masko and Brian Mowrey, former executives and shareholders of the debtor entity. A hearing on the objection was held on February 24, 2016....
MEMORANDUM OPINION AND ORDER KATHLEEN H. SANBERG , UNITED STATES BANKRUTPCY JUDGE . These adversary proceedings were before the court for a four day trial commencing on September 21, 2015, and concluding on October 5, 2015. The United States Trustee seeks an order denying the defendant's discharge pursuant to 11 U.S.C. 727(a)(2)(A), (a)(2)(B), (a)(4)(A) and (a)(5) in adversary no. 15-4050. The Chapter 7 Trustee sought an order denying the defendant's discharge pursuant to 11 U.S.C....
ORDER GRANTING DEFENDANT'S MOTION FOR DISMISSAL GREGORY F. KISHEL , CHIEF UNITED STATES BANKRUPTCY JUDGE . This adversary proceeding came before the court for oral argument on three specific aspects of the Defendant's motion for dismissal. The Defendant ("Associated Bank") appeared by its attorney, Bryan E. Minier, Pedersen & Houpt, P.C., Chicago. The Plaintiff ("the Trustee") appeared by his attorneys, Terrence J. Fleming and James A. Lodoen, Lindquist & Vennum, P.L.L.P., Minneapolis. The...
MEMORANDUM OPINION AND ORDER KATHLEEN H. SANBERG , Bankruptcy Judge . The debtor's Motion for Stay Pending Appeal was before the court on January 27, 2016. Barbara May appeared on behalf of the debtor; Colin Kreuziger appeared on behalf of the United States Trustee; and Randall Seaver, the Chapter 7 Trustee, appeared in propria persona . This court has jurisdiction over this proceeding pursuant to 28 U.S.C. 157(a) & 1334 and Fed. R. Bankr. P. 8007. This matter is a core proceeding...
MEMORANDUM OPINION AND ORDER Michael E. Ridgway , United States Bankruptcy Judge . At Fergus Falls, Minnesota, January 25, 2016. This matter returns to the Court, after the Bankruptcy Appellate Panel for the Eighth Circuit ("BAP") reversed and remanded, to resolve the debtor's disputed, claimed exemption of farm proceeds under MINN. STAT. 550.37, subd. 13. 1 On August 25, 2015, the Court held a reconvened status conference. David C. McLaughlin appeared on behalf of the debtor. Kyle...
ORDER DENYING REQUEST FOR ADDITIONAL FEES AND COSTS MICHAEL E. RIDGWAY , Bankruptcy Judge . At Minneapolis, Minnesota, January 7, 2016. This adversary proceeding came on for hearing before the Court on November 4, 2015, on the motion of Howard Lapides ("Defendant" or "Mr. Lapides") to "confirm attorneys' [sic] fees in the bankruptcy court and for additional attorney's fees and costs relating to plaintiff's appeals," 1 (the "Motion"), together with the response thereto by Venture Bank ("...
MEMORANDUM ON OPPORTUNITY FINANCE DEFENDANTS' MOTION FOR DISMISSAL, RE: EFFECT OF SUBSTANTIVE CONSOLIDATION ON TRUSTEE'S STANDING GREGORY F. KISHEL , CHIEF UNITED STATES BANKRUPTCY JUDGE . This adversary proceeding was commenced in the Chapter 11 cases of Debtor Petters Company, Inc., and the other Debtor-entities related to it. It is before the court for a ruling on an issue posed by Defendants Opportunity Finance, LLC, et al (collectively, "the Opportunity Finance defendants") in their...
ORDER GRANTING DEFENDANTS' MOTIONS FOR DISMISSAL GREGORY F. KISHEL , CHIEF UNITED STATES BANKRUPTCY JUDGE . This adversary proceeding came before the court for hearing on two separate motions for dismissal. One movant was Defendant DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main ("DZ Bank"). It appeared by its attorney, H. Peter Haveles, Jr., Kaye Scholer LLP. The remaining named Defendants (collectively, "the Opportunity Finance defendants") made the other motion. They...
