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Case Summaries

Bankruptcy Law

[05/08] Reusser v. Wachovia Bank, N.A.
In an action against a bank involving allegations that plaintiffs' were wrongfully evicted and their property improperly foreclosed upon, dismissal of plaintiffs' claims is affirmed where: 1) plaintiffs' section 1983 claims constituted a de facto appeal of a state court decision and were therefore barred by the Rooker-Feldman doctrine; and 2) plaintiffs' collateral attack on a bankruptcy court's jurisdiction was unavailing, and thus, defendant-bank did not violate 11 U.S.C. section 362 in foreclosing on plaintiffs' property.

[05/08] In re: Straightline Invs., Inc.
A judgment under 11 U.S.C. section 549(a) avoiding the transfer to appellant of corporate bankruptcy debtor's accounts receivable which had a face value of approximately $200,600 is affirmed over appellant's claims that: 1) the transfer of accounts receivable was not an avoidable transfer because there was no depletion or diminution of debtor's estate; 2) the transfer was an outright sale of receivables in the ordinary course of business, and the defenses of recoupment and earmarking should apply to bar recovery by the trustee; and 3) even if it was avoidable, the wrong measure of recovery was awarded.

[05/07] In Re: Barroso-Herrans
A bankruptcy court's approval of a settlement presented by the bankruptcy trustee is affirmed where the trustee's reading of certain of debtors' claimed exemptions, as limited to a $4,000 share of proceeds from each of two underlying lawsuits, was objectively reasonable.

[05/06] In re: Slatkin
Summary judgment in favor of bankruptcy trustee, avoiding under 11 U.S.C. section 548(a) and California Civil Code section 3439.04(a) certain transfers made by the debtor during his operation of a Ponzi scheme, is affirmed where: 1) the bankruptcy court did not abuse its discretion in denying appellants-investors' motion for a continuance to conduct further discovery; 2) investors' right to a jury trial was not violated by the grant of summary judgment; 3) the bankruptcy court properly determined that debtor acted with the actual intent to "hinder, delay, or defraud" his creditors; 4) a determination that debtor was not a "stockbroker" under the Bankruptcy Code was proper; and 5) prejudgment interest was properly awarded.

[05/01] In the Matter of: Babcock & Wilcox Co.
In an appeal arising in bankruptcy proceedings, judgment awarding attorney's fees to appellant-law firm is affirmed where there was no abuse of discretion in awarding attorney's fees at half the hourly rate for time spent traveling but not working, as opposed to the full hourly rate.

[04/29] In re: Penn Traffic Co.
A non-debtor party to a contract which is executory at the time a bankruptcy case is commenced cannot, by post-petition tender or performance of its own outstanding obligations under the contract, deprive the debtor party of the ability to exercise its statutory right to reject the contract as disadvantageous to the estate.

[04/23] Trusted Net Media Holdings, LLC v. Morrison Agency, Inc.
The requirements of 11 U.S.C. section 303(b) for filing an involuntary bankruptcy petition must be satisfied in order for the bankruptcy court to have subject matter jurisdiction over an involuntary bankruptcy case.

[04/22] Taumoepeau v. Mfrs. & Traders Trust Company
A Bankruptcy Appellate Panel (BAP) decision affirming ruling against plaintiff homeowners who argued that their mortgage holder violated their amended and approved bankruptcy plan is affirmed where: 1) a stipulation and amended plan can be read harmoniously, each addressing a separate debt owed by defendants; and 2) the BAP was correct in concluding that "postpetition default ... was not litigated at the confirmation hearing and was not addressed by the Modified Plan or the Confirmation Order."

[04/21] In re: Aramark Leisure Servs. v. Kendrick
In a special proceeding under the Limitation of Vessel Owner's Liability Act arising from a boating accident, and involving coverage for the accident, a judgment finding that plaintiff-vessel owner's insurer was required to provide primary coverage to the vessel operator is reversed and remanded where: 1) there was federal subject matter jurisdiction over the matter; and 2) the district court erred in holding the insurer liable to the operator, as the insurer had a valid escape clause and the operator has no claim against it that he is required to exhaust under Utah Code Ann. section 31A-28-213(1)(a).

[03/11] In Re: Strack
In Chapter 7 bankruptcy proceedings, a decision finding a particular debt dischargeable is reversed where: 1) the debt arose by reason of debtor's "defalcation," or nonfraudulent default, while he was acting in a fiduciary capacity; and 2) consequently, 11 U.S.C. section 523(a)(4) renders the debt non-dischargeable.
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