Where a commercial satellite operator and the debtors agreed to split the proceeds from a venture they proposed to the Federal Communications Commission, or FCC, but the FCC rejected their proposal and directed them to proceed in a different way, ...

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

Where the debtor failed to explain why he diverted a $133,000 check from his business to himself, he was liable for the embezzled funds, which were not dischargeable. Background Robert E. Dixon, individually and derivatively on behalf of DER LLC, ...

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

Where the court previously approved debtor-in-possession, or DIP, financing at the start of the bankruptcy proceeding, that decision forecloses the breach of fiduciary claim against the former officers and directors for their decision to take on DIP financing. Background TRU ...

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

Where the court previously approved debtor-in-possession, or DIP, financing at the start of a bankruptcy proceeding, that decision forecloses a breach of fiduciary claim against the former officers and directors for their decision to take on DIP financing. However claims ...

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

Where a debtor and Chapter 13 trustee brought an adversary proceeding to avoid transfers of real property the debtor made within the two years before filing his bankruptcy petition, the defendant’s argument that the plaintiffs lacked standing was rejected. Background ...

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

Where the husband of the debtor would otherwise have to wait until the conclusion of the bankruptcy before a state court could equitably distribute marital property as part of a divorce, a relief from the automatic stay was granted. Background ...

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

A lawyer who sought to keep a divorce case from going dormant after the opposing party filed for bankruptcy has been hit with $6,050 in sanctions by a Richmond bankruptcy judge who concluded the actions of the lawyer and his ...

Tagged with: Bankruptcy Divorce Judge Keith L. Phillips Sanctions

Where the debtor’s husband filed several documents in their divorce case after the debtor filed for bankruptcy protection, including a request the state court rehear and reconsider issues of equitable distribution in light of the bankruptcy filing, the debtor was ...

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

The holder of a $846 million commercial mortgage-backed securities loan that was made to 24 landlords of Lord & Taylor failed to compel the debtors to pay all rents and sums directly to the trust. The trust was not a ...

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

A debtor that was told it could recover reasonable fees for work related to Rule 3001 violations but not for an unsuccessful Fair Debt Collection Practices Act claim, sought over $152,000 in attorneys’ fees. The amount was reduced by 25% ...

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