Clinton County Treasurer v. Wolinsky, 511 B.R. 34 (N.D.N.Y. 2014) –
A chapter 7 trustee sought to avoid a property tax foreclosure as a fraudulent transfer and then to recover damages from the foreclosing county. The bankruptcy court agreed that the transfer was a fraudulent conveyance, but awarded only about half of the damages requested by the trustee. Both the county treasurer and the trustee appealed. Continue reading
Anderson v. Architectural Glass Constr., Inc. (In re Pfister), 749 F.3d 294 (4th Cir. 2014) –
A chapter 7 trustee sought to set aside as a a debtor’s transfer of her interest in property held jointly with her husband to her husband’s corporation as a constructive fraudulent conveyance. The bankruptcy court agreed that it was a fraudulent transfer; the district court reversed; and the 4th Circuit reversed in part, vacated in part and remanded for further proceedings. Continue reading
Dishi & Sons v. Bay Condos LLC, 510 B.R. 696 (S.D.N.Y. 2014) –
In approving the sale of a Chapter 11 debtor’s assets, a bankruptcy court found that a tenant of the debtor was entitled to continue in possession of the leased portion of the sold property for the remainder of its lease. The successful bidder at the sale appealed, arguing that the sale was “free and clear” of the tenant’s interests. Continue reading
In re Solitron Devices, Inc., 510 B.R. 890 (Bankr. S.D. Fla. 2014) –
A Chapter 11 debtor moved to reopen its bankruptcy case more than 15 years after it was closed in order to enforce the plan confirmation order to prevent claims by a state environmental agency and other potentially responsible parties for clean-up costs at a landfill. Continue reading
In re Residential Capital, LLC, 508 B.R. 851 (Bankr. S.D.N.Y. 2014) –
An oversecured creditor claimed post-petition interest at the contract default rate. The debtors and the post-confirmation liquidating trust objected, arguing that the lender should be limited to the non-default rate. Continue reading
In re Elk Grove Village Petroleum, 510 B.R. 594 (Bankr. N.D. Ill. 2014) –
After substantially all of the debtors’ assets were sold in a bankruptcy sale, a secured lender and a state tax authority made competing claims for turnover of sale proceeds. The bankruptcy court addressed first the relative priority of their claims and then the right of the state tax authority to collect unpaid seller taxes from the purchaser of the assets. Continue reading
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