OPINION ERIC L. FRANK, Bankruptcy Judge. TABLE OF CONTENTS I. INTRODUCTION II. FACTUAL AND PROCEDURAL BACKGROUND A. Factual Background B. The Procedural History of the State Court Litigation and the Bankruptcy Proceedings C. The Chancery Court Findings Relating to the Sanctions Award D. The Chancery Court Findings Relating to the Compensatory Damages 1. misappropriation of trade secrets 2. breach of fiduciary duties 3. tortious interference with contractual relations 4....
STATEMENT SUPPORTING ORDER DATED NOVEMBER 2, 2012 RICHARD E. FEHLING, Bankruptcy Judge. I. INTRODUCTION On October 2, 2012, Debtors, Carter and Sarah Reese, initiated this Chapter 11 proceeding by filing their petition. I immediately issued an Order pursuant to Section 105(d) of the Bankruptcy Code, 11 U.S.C. 105(d), scheduling a status conference for me to examine Debtors to determine (1) what led to this filing, (2) the current status of Debtors, and (3) how the Debtors intend to...
ORDER JEAN K. FITZSIMON, Bankruptcy Judge. AND NOW, this 29th day of August, 2012, WHEREAS: A. The Debtor the Harris Agency (the "Debtor") filed a voluntary petition for Chapter 11 bankruptcy protection on January 20, 2009. B. The original complaint (the "Original Complaint") in this adversary proceeding was filed on June 16, 2011. Doc. #1. C. Upon consideration of the Defendants' Motion to Dismiss the Original Complaint (the "First Motion to Dismiss") and the Objections thereto (Doc. nos....
MEMORANDUM BRUCE FOX, Bankruptcy Judge. Before me is a motion filed by defendants Vincent Piazza Sr., Piazza Family L.P., Piazza Management Corporation, VMP Holdings Associates, L.P., and VMP Holdings, LLC (hereinafter the Piazza defendants) seeking to remand this proceeding back to state court pursuant to 28 U.S.C. 1452(b) or, in the alternative, to abstain from determining this adversary proceeding under 28 U.S.C. 1334(c). This motion was joined by defendants, Richard J. Meadows, W....
MEMORANDUM ERIC L. FRANK, Bankruptcy Judge. I. INTRODUCTION Within the nine (9) month period before filing its bankruptcy case, Universal Marketing, Inc. ("the Debtor") made seven (7) transfers of $25,000.00 (totaling $175,000.00) to Starnet Capital Group, LLC ("Starnet"). Two (2) of the transfers, totaling $50,000.00, occurred within ninety (90) days of the bankruptcy filing ("the preference period"). In this adversary proceeding, Charles R. Goldstein, the Chapter 7 Trustee ("the...
MEMORANDUM MAGDELINE D. COLEMAN, Bankruptcy Judge. INTRODUCTION Before this Court for consideration is the Chapter 7 Trustee, Christine C. Shubert's ("Trustee") objection (the "Objection") to Jennifer A. Greenly ("Mrs. Greenly") and Dean M. Greenly's ("Mr. Greenly," collectively the "Debtors") claim of exemptions to Annuity Policy 011800CS01z (the "Annuity"), and payments received by Mrs. Greenly from the Annuity. The Debtors originally only scheduled monthly payments received from the...
OPINION ERIC L. FRANK, Bankruptcy Judge. I. INTRODUCTION Plaintiff Deborah Klein ("Klein") is the former spouse and judgment creditor of Defendant-Debtor Douglas Weidner ("the Debtor or Weidner"). Klein and the Debtor were divorced in California in 1999. Pursuant to the divorce decree, Klein was awarded spousal and child support. On June 2, 2008, after protracted litigation between the parties, the California state court entered judgment in Klein's favor in the amount of $548,797.07 for...
MEMORANDUM OPINION RICHARD E. FEHLING, Bankruptcy Judge. I. INTRODUCTION The Court of Common Pleas of Berks County (the "Berks Court") ordered Amy Lou Styer ("Debtor") to pay civil restitution pursuant to section 201-4.1 of the Pennsylvania Unfair Trade Practices and Consumer Protection Law, 73 P.S. 201-4.1. The Berks County action had been initiated by the Commonwealth of Pennsylvania (the "Commonwealth"). The Berks Court stated that the restitution award was "for the benefit of the...
OPINION JEAN K. FITZSIMON, Bankruptcy Judge. I. INTRODUCTION The Plaintiff in this adversary proceeding (the "Adversary Proceeding"), Hartford Fire Insurance Company ("Hartford"), is the insurer and indemnitor for the losses of Aerogroup International, Inc. ("Aerogroup"). 1 In this litigation, Hartford seeks to hold the Defendant/Debtor Wendy Ann Lewis ("Ms. Lewis") liable for a scheme in which the Shipping Manager of Aerogroup, Samuel Nysenbaum ("Nysenbaum"), created a sham entity...
ORDER MAGDELINE D. COLEMAN, Bankruptcy Judge AND NOW, upon consideration of (1) the Motion for Preliminary Injunction [Docket No. 5] (the "Injunction Motion") filed by James Albert D'Angelo, Sr. and Carolyn Marie D'Angelo (the "Debtors"), and (2) the Motion to Dismiss Adversary Proceeding or, Alternatively, Abstention dated May 7, 2012 (the "Motion to Dismiss") filed by J.P. Morgan Chase Bank, N.A. ("J.P. Morgan"); It is hereby ORDERED that: 1. The Debtors' claims to avoid pursuant to...
MEMORANDUM MAGDELINE D. COLEMAN, Bankruptcy Judge. INTRODUCTION On May 8, 2012, this Court held an expedited hearing (the "Expedited Hearing") to address a Motion for a Preliminary Injunction [Docket No. 5] (the "Injunction Motion") filed by James Albert D'Angelo, Sr. and Carolyn Marie D'Angelo (the "Debtors"). Pursuant to the Injunction Motion, the Debtors requested that this Court issue a preliminary injunction enjoining J.P. Morgan Chase Bank, N.A. ("J.P. Morgan") from prosecuting a...
MEMORANDUM ERIC L. FRANK, Bankruptcy Judge. I. INTRODUCTION In November 2008, Oppenheimer & Co. Inc. ("Oppenheimer") hired Gregory Ricker ("the Debtor") as a stockbroker. As is customary in the securities industry, Oppenheimer extended to the Debtor a substantial hiring "bonus" in the form of a forgivable loan ("the Oppenheimer Loan"). The Oppenheimer Loan was for $349,652.00. The loan agreement provided that the principal amount would be discharged in increments over five (5) years so long...
MEMORANDUM OPINION RICHARD E. FEHLING, Bankruptcy Judge. I. INTRODUCTION Plaintiff/Debtor, Erik Von Kiel, formerly known as Dennis Fluck, ("Debtor"), is a doctor who owed, as of February 29, 2012, $200,239.42 in Health Education Assistance Loans ("HEAL loans"). See Declaration of Barry M. Blum ("Blum Declaration"), p. 6, 32 (attached to Defendants' Motion for Summary Judgment as Exhibit 1). 1 Through his Complaint, Debtor seeks a determination that for various reasons, the HEAL loans...
MEMORANDUM OPINION RICHARD E. FEHLING, Bankruptcy Judge. I. INTRODUCTION With all due respect for the excellent lawyers involved in this litigation, I suggest that they missed the real issues central to this dispute. They were correct to argue that the issue of reasonably equivalent value is important in this fraudulent transfer case. But the timing of the relevant events belies the parties' narrow focus on the value of a certain technology as the key to resolving the Trustee's claim. II....
ORDER ERIC L. FRANK, Bankruptcy Judge. AND NOW, WHEREAS: A. The Plaintiff David Cutler Industries, Ltd. (the "Debtor"), filed a voluntary chapter 11 bankruptcy petition on November 16, 2009. B. The Debtor commenced this adversary proceeding on November 14, 2011 by filing a complaint ("the Complaint"), asserting five (5) claims against Defendant Pennsylvania Department of Revenue ("Pa.D.Rev."), for avoidance and recovery of certain allegedly fraudulent transfers and disallowance of...
OPINION ERIC L. FRANK, Bankruptcy Judge. I. INTRODUCTION In this adversary proceeding, Plaintiff Green Goblin, Inc. ("Green Goblin") seeks to hold Defendant Warren Simons ("Simons"), the assignee of a mortgage and two (2) promissory notes (collectively, "the Notes"), liable for breach of contract. Green Goblin contends that Simons breached the parties' contract by confessing judgment against Green Goblin and commencing execution on the judgment. Green Goblin attributes the subsequent decline...
OPINION ERIC L. FRANK, Bankruptcy Judge. TABLE OF CONTENTS I. INTRODUCTION II. FACTUAL AND PROCEDURAL BACKGROUND A. The Debtors B. The Bond Transaction C. The Bankruptcy Filing D. The Bond Litigation E. The Bond Litigation Settlement Terms F. The 9019 Motion G. The Indenture Trustee's August 16, 2011 Notice to the Bondholder H. The September 14, 2011 Hearing on the Rule 9019 Motion I. The Plan and Disclosure Statement 1. a short chronology 2. the Plan 3. the...
OPINION MAGDELINE D. COLEMAN, Bankruptcy Judge. INTRODUCTION On November 15, 2011, this Court held a hearing to address Third Party Defendant, Security Abstract of PA, Inc.'s ("Security") Motion to Dismiss Third Party Complaint ("Motion to Dismiss"). At the hearing and prior to hearing the merits of the Motion to Dismiss, this Court raised the issue of whether, consistent with Stern v. Marshall, ___ U.S. ___, 131 S.Ct. 2594 , 180 L.Ed.2d 475 (2011), this Court lacks subject matter...
MEMORANDUM MAGDELINE D. COLEMAN, Bankruptcy Judge. INTRODUCTION Before this Court for consideration is debtor, Mary T. Foy's (the "Debtor") objections to (i) Proof of Claim Number 4 of CR Evergreen, LLC (the "Claim 4 Objection"), and (ii) Proof of Claim Number 5 of eCast Settlement Corporation (the "Claim 5 Objection," together with the Claim 4 Objection, the "Objections"). CR Evergreen, LLC ("Evergreen") filed Proof of Claim No. 4, asserting a claim in the amount of $8,042.61 (the "...
MEMORANDUM ERIC L. FRANK, Bankruptcy Judge. I. INTRODUCTION The confirmed chapter 13 plan of Debtor Raymond E. Smith ("the Debtor") provides, inter alia, that the Debtor will procure a "reverse mortgage" on his residential real property and use the proceeds to pay off the existing mortgage on the property held by M & T Bank ("M & T"). Before the court is the Debtor's objection (the "Objection") to M & T's amended proof of claim, which is in the amount of $32,053.58. The Debtor bases his...
