MEMORANDUM DECISION GRANTING DEFENDANT'S MOTION FOR PERMISSIVE ABSTENSION, A STAY AND RELIEF FROM THE AUTOMATIC STAY STUART M. BERNSTEIN , Bankruptcy Judge . The Plaintiffs commenced this adversary proceeding seeking declaratory, monetary and turnover relief against the Defendant, Phillip Phillips ("Phillips"), arising under several contracts between the parties. An administrative proceeding involving some of these claims was already pending between the parties in California when the...
MEMORANDUM DECISION RESOLVING MOTIONS FOR SUMMARY JUDGMENT STUART M. BERNSTEIN , United States Bankruptcy Judge : The plaintiff Jose Borges commenced this adversary proceeding against the debtor and defendant Alfred Placeres to dismiss his chapter 7 case, determine the dischargeability of Placeres' debts owed to Borges and deny Placeres a general discharge. Placeres moved for summary judgment on all claims and Borges cross-moved for partial summary judgment on his non-dischargeability...
BENCH DECISION REGARDING ALLEGED DEBTOR'S MOTION TO DISMISS INVOLUNTARY PETITION MICHAEL E. WILES , Bankruptcy Judge . We are here in the case of Yoga Smoga, Inc. An involuntary petition has been filed, and the alleged debtor has moved to dismiss. I will dictate my decision on the motion to dismiss today, and I will ask the petitioning creditors to obtain a transcript of this proceeding. I will use that transcript as the basis for a more formal written opinion in which I will clean up...
MEMORANDUM DECISION AND ORDER DENYING MOTION FOR STAY PENDING APPEAL STUART M. BERNSTEIN , Bankruptcy Judge . The Debtor, Dorothy Palmer, moves for a stay pending appeal of this Court's Order Authorizing and Approving Sale of Debtor's Property, Free and Clear of all Liens, Claims, and Encumbrances in Accordance with 11 U.S.C. 363, dated Dec. 7, 2016 (the " Sale Confirmation Order ") (ECF Doc. # 247), which approved her chapter 7 trustee's sale of her Manhattan co-op apartment (the "...
MEMORANDUM OPINION AND TEMPORARY RESTRAINING ORDER MARTIN GLENN , UNITED STATES BANKRUPTCY JUDGE . "The need to develop all relevant facts in the adversary system is both fundamental and comprehensive.... The very integrity of the judicial system and public confidence in the system depend on full disclosure of all the facts, within the framework of the rules of evidence." United States v. Nixon, 418 U.S. 683 , 709, 94 S.Ct. 3090, 41 L.Ed.2d 1039 (1974) (explaining the importance of the...
BENCH DECISION REGARDING OBJECTIONS TO FINAL FEE APPLICATIONS OF PJT PARTNERS L.P. AND HOULIHAN LOKEY CAPITAL INC. MICHAEL E. WILES , Bankruptcy Judge . We are here so that I can announce my decision on the final fee applications of PJT Partners LP (formerly Blackstone Advisory Partners L.P.) and Houlihan Lokey Capital, Inc. I will refer to them today as "PJT" and as "Houlihan." This will constitute my bench ruling on the applications. I will instruct the attorneys for Relativity to...
MEMORANDUM OPINION AS TO TORT CLAIMS TRUSTEE'S MOTION FOR INSTRUCTIONS REGARDING FUTURE TORT CLAIMS MICHAEL E. WILES , Bankruptcy Judge . The Tronox Incorporated Tort Claims Trust (the " Trust ") was established under the confirmed plan of reorganization in these cases (the " Plan "). The Trust is governed by a Tort Claims Trust Agreement (the " Trust Agreement ") and by a set of Tort Claims Trust Distribution Procedures (the " TDPs "). The Plan and the Trust Agreement establish...
SIPA LIQUIDATION MEMORANDUM DECISION GRANTING HSBC DEFENDANTS' MOTION TO DISMISS CROSS-CLAIMS STUART M. BERNSTEIN , United States Bankruptcy Judge : Irving H. Picard (the "Trustee"), as trustee of the liquidation of Bernard L. Madoff Investment Securities LLC ("BLMIS") under the Securities Investor Protection Act of 1970 ("SIPA"), 15 U.S.C. 78aaa, et seq., brought this adversary proceeding to avoid and recover initial transfers made to numerous feeder funds, including Alpha Prime...
MEMORANDUM OPINION AND ORDER DENYING THE MOVING TERM LOAN LENDERS' MOTION TO SEAL AND ORDERING THAT THE UNREDACTED BLACKROCK FUNDS' STATEMENTS PURSUANT TO RULE 7007.1 BE FILED MARTIN GLENN , UNITED STATES BANKRUPTCY JUDGE . Fed R. Bankr. P. 7007.1 requires parties in adversary proceedings, other than the debtor, to file statements identifying the holders of 10% or more of the equity of each party. The rule serves several important purposes. It enables the judge to identify potentially...
MEMORANDUM OPINION AND ORDER GRANTING MOTION TO DISMISS MARTIN GLENN UNITED STATES BANKRUPTCY JUDGE . Pending before the Court is the Notice of Moving Defendants' Motion to Dismiss the Action Against Them (the "Notice," ECF Doc. # 701), filed by GMAM Investment Funds Trust (the "GIFT Trust"), Lehman GMAM Investment Funds Trust ("Lehman GIFT"), and Pension Inv Committee of GM for GM Employees Domestic Group Pension Trust ("Pens Inv Comm," and together with GIFT Trust and Lehman GIFT,...
DECISION HOLDING THAT DISPUTED ATTORNEYS' FEE OBLITGATION IS A DISPUTED CONSUMER DEBT MICHAEL E. WILES , Bankruptcy Judge . Debtor Judith Cohen Roberts is indebted to W7879 LLC and other parties (the "Movants") in the amount of $112,754.71 by reason of a judgment for unpaid rent that was entered in favor of the Movants in the New York state court. Ms. Roberts has appealed from that judgment. The Movants also have filed, in the state court, a motion for reimbursement of attorneys' fees and...
POST-TRIAL MEMORANDUM OF DECISION SEAN H. LANE , Bankruptcy Judge . Before the Court is the merits of this adversary proceeding filed by BH Sutton Mezz LLC, a Delaware Limited Liability Company (" Sutton Mezz DE "), Sutton 58 Owner LLC, a Delaware Limited Liability Company (" Sutton Owner DE "), and Sutton 58 Owner LLC, a New York Limited Liability Company (" Sutton Owner NY "). The Court will refer to these three entities collectively as the " Plaintiffs " or " Debtors ". This adversary...
NOT FOR PUBLICATION DECISION ON MOTION OF 3 WEST 16 TH STREET, LLC TO CONVERT CHAPTER 11 CASE TO CHAPTER 7 CASE OR, ALTERNATIVELY, TO APPOINT A CHAPTER 11 TRUSTEE MARY KAY VYSKOCIL , Bankruptcy Judge . Pending before the Court is the motion of 3 West 16th Street, LLC (the " Landlord ") for an order converting the chapter 11 case of Steven J. Ancona (the " Debtor ") to a chapter 7 case or, alternatively, appointing a chapter 11 trustee (the " Motion "). See ECF No. 245. The Debtor has...
NOT FOR PUBLICATION DECISION ON THE TRUSTEE'S SUPPLEMENTAL MOTION FOR SUMMARY JUDGMENT AS TO PURPORTED AFFIRMATIVE DEFENSES ASSERTED BY THE DEFENDANT MARY KAY VYSKOCIL , Bankruptcy Judge . Pending before the Court is the Trustee's Supplemental Motion for Summary Judgment as to Purported Affirmative Defenses Asserted by the Defendant (the " Supplemental Summary Judgment Motion " or the " Supp. Mtn. ") [ECF No. 123]. 1 The Supplemental Summary Judgment Motion is addressed to the sole...
MEMORANDUM DECISION GRANTING MOTION TO ENFORCE DISCHARGE INJUNCTION UNDER CHAPTER 11 PLAN OF REORGANIZATION AND DENYING SANCTIONS AGAINST BENZENE CLAIMANTS AND COUNSEL JAMES L. GARRITY, Jr. , Bankruptcy Judge . In this reopened Chapter 11 case, 1 Chemtura Corporation ("Chemtura") and its affiliates that were debtors in the above captioned cases (collectively, the "Reorganized Debtors" or "Debtors," before the effective date of the Debtors' joint plan of reorganization (the "Plan")), 2...
MEMORANDUM DECISION REGARDING CLAIMS TO RECOVER FOREIGN SUBSEQUENT TRANSFERS STUART M. BERNSTEIN , Bankruptcy Judge . Bankruptcy Code 550(a)(2) permits a trustee to recover an avoided fraudulent transfer or its value from "any immediate or mediate transferee," e.g. , a subsequent transferee of the initial transferee or prior subsequent transferee. Relying on this provision, Irving H. Picard (the "Trustee"), the trustee for the liquidation of Bernard L. Madoff Investment Securities LLC ("...
MEMORANDUM DECISION AND ORDER DENYING MOTION TO APPROVE ASSIGNMENT OF CLAIMS PURSUANT TO 11 U.S.C. 363(b)(1) & 1520(a)(2) WITHOUT PREJUDICE STUART M. BERNSTEIN , Bankruptcy Judge . Kenneth Krys and Charlotte Caulfield (collectively, the "Liquidators") 1 , in their capacities as liquidators and foreign representatives of Fairfield Sentry Limited ("Sentry"), Fairfield Sigma Limited ("Sigma") and Fairfield Lambda Limited ("Lambda," and together with Sentry and Sigma, the "Fairfield Funds")...
PROPOSED FINDINGS OF FACT AND CONCLUSIONS OF LAW ROBERT D. DRAIN , Bankruptcy Judge . The Bankruptcy Court of the Southern District of New York hereby files these proposed findings of fact and conclusions of law for review by the District Court of the Southern District of New York pursuant to 28 U.S.C. 157(c)(1), Federal Rule of Bankruptcy Procedure 9033, and Local Bankruptcy Rule 9033-1, for entry of a final order confirming an arbitration award pursuant to 9 U.S.C. 9 and entry of a...
MEMORANDUM DECISION AND ORDER GRANTING MOTION FOR THE APPOINTMENT OF A CHAPTER 11 TRUSTEE JAMES L. GARRITY, Jr. , Bankruptcy Judge . INTRODUCTION 2 This matter comes before the Court on the Motion (the "Motion") of Co peratieve Rabobank U.A. ("Rabobank"), Standard Chartered Bank (Hong Kong) Limited ("Standard Chartered") and DBS Bank (Hong Kong), Limited ("DBS," and together with Rabobank and Standard Chartered, the "Club Lender Parties" 3 ) seeking the appointment of a Chapter 11...
NOT FOR PUBLICATION MEMORANDUM OPINION AND ORDER DENYING DEFENDANT'S MOTION FOR RECONSIDERATION MARTIN GLENN , Bankruptcy Judge . Pending before the Court is Defendant 21st Mortgage Corporation's Memorandum of Law and Motion for Reconsideration or Reargument of this Court's Memorandum Opinion and Order Denying Defendant's Motion for Summary Judgment and Granting Plaintiff's Cross Motion for Summary Judgment Pursuant to Local Civil Rule 6.3 and for Extension of Time to File Notice of...
