New Opinions

NY BK Court Disallows Defendants to “Manufacture” Claims at Motion Stage

January 27, 2023 admin

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Download the full pdf of the opinion by clicking: here December 08, 2022, US Bankruptcy Court for Southern New York – The Bankruptcy Court for Southern New York denied a motion filed by Jason Stone and KeyFi, Inc. (“Defendants”), which sought to dismiss Celsius Network’s complaint against them. Celsius’s complaint alleged that Celsius entrusted the […]

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NY District Court Refuses to Hold Debtor Liable for Alleged Breach of Subsidiary’s Contract

January 27, 2023 admin

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Download the full pdf of the opinion by clicking: here December 12, 2022, US District Court for Southern New York – The District Court for Southern New York affirmed a decision of the Southern New York Bankruptcy Court, which had dismissed Zelig Weiss’s complaint against Debtor All Year Holdings Ltd. and its subsidiary YGWV. The […]

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Construction Company Loses Breach of Contract Bid Against Lenders

January 27, 2023 admin

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Download the full pdf of the opinion by clicking: here January 04, 2023, US Bankruptcy Court for Connecticut – The Connecticut Bankruptcy Court denied Dennis Group’s summary judgment motion on the allegations of breach of contract and fraud against People’s United Bank, N.A., and B.M.O. Harris Bank, N.A. Dennis Group was engaged by Old CP, […]

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Puerto Rico BK Court Holds Foreclosure Judicial Sale Not a Preference

January 27, 2023 admin

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Download the full pdf of the opinion by clicking: here December 29, 2022, US Bankruptcy Court for Puerto Rico – Puerto Rico Bankruptcy Court dismissed the preference and fraudulent transfer allegations made by BLD Realty, Inc. (“Debtor”) against Latin Investment Corp., et al., (“Defendants”). BLD Realty had also sought a declaratory judgment that the two […]

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Court Dismisses Law Firm’s “In Pari Delicto” Defense as Premature at Motion to Dismiss Stage

October 4, 2022 admin

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September 22, 2022, US Bankruptcy Court for Nevada – The Nevada Bankruptcy Court denied dismissal of the bankruptcy Trustee’s suit against a law firm under Federal Rule of Civil Procedure 12(b)(6). The Trustee’s complaint alleged “professional malpractice”, “breach of fiduciary duty”, and other claims against the law firm and the Court denied the use of […]

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Court Dismisses Use of “Business Judgment Rule” to Give Some Space to “Breach of Fiduciary Duty” Claim

October 4, 2022 admin

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September 19, 2022, US Bankruptcy Court for Western Pennsylvania – The Court denies in part and grants in part the motion filed by Peter Tsudis (the “Defendant”) to dismiss the complaint brought by KIND Operations, Inc. (the “KIND”), as assignee of the bankruptcy estate of PA Co-Man, Inc. (the “Debtor”). KIND alleges “breach of fiduciary duty”, […]

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District Court Reverses: BK Erred in Dismissing Malpractice Claim

August 9, 2022 admin

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Download the full pdf of the opinion by clicking: here July 29, 2022, US District Court for Southern New York – The US District Court for Southern New York reversed a Bankruptcy Court decision granting summary judgment to Defendants in the Basic Foods bankruptcy case. The plaintiffs Jae Ho Lee (“Lee”), his wife Soyoun Park […]

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Delaware Judge Rejects D&O’s MTD

August 9, 2022 admin

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Download the full pdf of the opinion by clicking: here July 27, 2022, US Bankruptcy Court for the District of Delaware – The US Bankruptcy Court for Delaware denied Defendants’ motion to dismiss the claim for breach of fiduciary duty alleged by Alfred T. Giuliano, the Chapter 7 trustee (“Trustee”) for bankruptcy estates of Nobilis […]

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Unpaid New Value Stays Unpaid Even When Later Paid Post Petition–11th Cir

August 9, 2022 admin

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Download the full pdf of the opinion by clicking: here July 18, 2022, US Eleventh Circuit Court of Appeals – The Eleventh Circuit Court of Appeals reversed the Bankruptcy Court’s order which had denied Auriga Polymers Inc. (“Defendant”) motion to offset its preference liability against the new value Auriga provided to Beaulieu Group, LLC (“Debtor”) […]

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New York District Court Nixes Shareholder’s Appeal in Trustee Suit

August 4, 2022 admin

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Download the full pdf of the opinion by clicking: here July 18, 2022, US District Court for Southern New York – The District Court for Southern New York granted Trustee Ian J. Gazes’ motion to dismiss Nicholas Gordon’s appeal from Bankruptcy Court’s orders. The orders dismissed the adversary proceeding filed by Nicholas Gordon against Trustee […]

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