Lynch v. Vaccaro, 566 B.R. 290 (E.D.N.Y. 2017) –
Both the debtor and the ultimate purchaser appealed bankruptcy orders relating to auction of the debtor’s property by a state court receiver. The district court emphatically dismissed the appeals as moot because neither party obtained a stay of the relevant orders pending appeal. Continue reading
Tamir v. U. S. Trustee, 566 B.R. 278 (D. Me. 2016) –
A chapter 11 debtor filed objections to proofs of claim filed by holders of his mortgage notes. He argued that the banks did not have secured claims because under state law they did not have standing to foreclose the related mortgages. After the bankruptcy court found in favor of the banks, the debtor appealed. Continue reading
Produce growers who sold to a debtor/distributor on credit sued a factoring agent that acquired accounts receivable from the debtor. They contended that the receivables were subject to a PACA (Perishable Agricultural Commodities Act) trust, and consequently as trust beneficiaries they were entitled to be paid by the factor out of the receivables proceeds. The district court ruled in favor of the factor, and the growers appealed to the Ninth Circuit. Continue reading
Weiss v. U.S. Bank, N.A. (In re Mularski), 565 B.R. 203 (Bankr. D. Mass. 2017) –
A chapter 7 trustee sought to avoid a prepetition transfer of property resulting from a mortgage foreclosure sale. The mortgagee argued that the completed sale extinguished all of the debtor’s interest even though the foreclosure deed and related documents were not recorded until postpetition. Continue reading
RGW Properties of Beaver County, Inc., 564 B.R. 489 (Bankr. W.D. Pa. 2017) –
A Chapter 11 debtor sought confirmation of its plan of reorganization over the objection of its primary secured creditor. The mortgagee argued that (1) the property that was its collateral, which was acquired by the debtor in tax sales, was not even part of the bankruptcy estate, and (2) the cramdown payment terms in the plan could not be confirmed. Continue reading
In re Hueramo, 564 B.R. 604 (Bankr. N.D. Ill. 2017) –
A chapter 13 debtor proposed a plan that bifurcated an undersecured mortgage loan into a secured claim and an unsecured claim. The mortgagee objected and moved for relief from the automatic stay. Continue reading
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