A Richmond U.S. Bankruptcy Court says a chapter 7 trustee may seek recovery in this case against Sterne Agee as successor entities; the weight of authority outside this circuit supports the conclusion that a successor liability claim constitutes property of ...

Tagged with: Bankruptcy Judge Keith L. Phillips U.S. Bankruptcy Court

A Richmond U.S. District Court reverses a bankruptcy court decision that appellee trust is entitled to a $500,000 deposit appellant paid under an Asset Purchase Agreement to buy debtor Potomac Supply Corporation’s assets, as debtor did not issue a buyer ...

Tagged with: Bankruptcy Judge M. Hannah Lauck U.S. District Court - Eastern District

An Alexandria U.S. District Court affirms a bankruptcy court order granting summary judgment on the trustee’s declaratory judgment action to invalidate a transfer of ownership interest in Grand Centreville LLC, a shopping center company, to appellant. The bankruptcy court found ...

Tagged with: Bankruptcy Judge Leonie Brinkema U.S. District Court - Eastern District

In plaintiffs’ suit seeking relief for alleged embezzlement of funds from an escrow account holding monies paid in a Loan Settlement Agreement, the Alexandria U.S. Bankruptcy Court says it has no personal jurisdiction over defendant, a UK bank holding company, ...

Tagged with: Bankruptcy Judge Brian F. Kenney U.S. Bankruptcy Court

An Alexandria U.S. Bankruptcy Court sustains a chapter 7 trustee’s objection to debtor’s claimed exemption under Va. Code § 34-34 of $30,154.99 in a nonqualified deferred compensation plan established pursuant to IRC 409A, as part of debtor’s compensation package from ...

Tagged with: Bankruptcy Judge Brian F. Kenney U.S. Bankruptcy Court

A Lynchburg U.S. Bankruptcy Court denies debtor’s counsel additional requested compensation of $2,000 for reaching a settlement regarding a complaint to determine dischargeability of debt filed on behalf of the Social Security Administration in this adversary proceeding alleging overpayment of ...

Tagged with: Bankruptcy Judge Rebecca B. Connelly U.S. Bankruptcy Court

A Richmond U.S. Bankruptcy Court allows a chapter 11 debtor to claim an exemption in a rollover IRA account, despite an objection from MT Technology Enterprises LLC. The court took under advisement whether a “prohibited transaction” as defined by 26 ...

Tagged with: Bankruptcy Judge Kevin R. Huennekens U.S. Bankruptcy Court

A debtor who refused to provide bank statements, tax returns and additional information about his employment and income, while repeatedly seeking deferral of the adjourned § 341 meeting of creditors has his chapter 7 petition dismissed by the Richmond U.S. ...

Tagged with: Bankruptcy Judge Kevin R. Huennekens U.S. Bankruptcy Court

A chapter 7 trustee is entitled to sell debtor’s one-half interest in the home he shared with his former wife before their 2011 divorce; however, the trustee may not recover from wife rent or other contribution for her possession of ...

Tagged with: Bankruptcy Judge Kevin R. Huennekens U.S. Bankruptcy Court

Chapter 7 debtors’ desire to claim two mortgage debts as expenses in their chapter 7 means test calculation even though they intend to surrender the property does not allow a presumption of abuse; the Alexandria U.S. Bankruptcy Court rejects the ...

Tagged with: Bankruptcy Judge Robert G. Mayer U.S. Bankruptcy Court