New Opinions

Seventh Circuit Overrules 1984 Precedent of Defining Bankruptcy ‘Transfer’

February 15, 2023 admin

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Download the full pdf of the opinion by clicking: here January 09, 2023, US Court of Appeals for the Seventh Circuit – The Seventh Circuit Court of Appeals overruled its 1984 definition of preferential ‘transfer’ laid down in In re Coppie, 728 F.2d 951 (7th Cir. 1984). The Court made the decision addressing a transfer […]

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New Hampshire BK Court Upholds Race-Notice Rule to Decide Priority of Lien

February 15, 2023 admin

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Download the full pdf of the opinion by clicking: here January 06, 2023, US Bankruptcy Court for New Hampshire – The New Hampshire Bankruptcy Court decided a priority dispute between a contractor’s mechanic’s lien and a lender’s mortgage in the bankruptcy case of Prospect-Woodward Home (“Debtor”). The Court ruled that the race-notice rule gave an […]

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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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