Where the Chapter 11 bankruptcy of an international aircraft leasing company required the retention of multiple law firms and financial professionals, their applications for fees and expenses were granted by the court. Background This matter comes before the court on ...

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

Where the Internal Revenue Service voluntarily released a lien after receiving notice of the debtor’s discharge, and the trustee later sold the debtor’s real property for the benefit of creditors, no tax lien existed on the date of the closing ...

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

Where a settlement between the LeClairRyan trustee and defendants will result in the payment of $21 million to the debtor’s estate, the probability of success on the merits was not certain, litigation would be lengthy, expensive and complex, and the ...

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

Where the bankruptcy trustee for the defunct law firm LeClairRyan sought to avoid and recover transfers made to Gary LeClair, one of the firm’s founders, her claims may proceed because the transfers were allegedly made to hinder, delay or defraud ...

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

Where the United States trustee moved to stay the bankruptcy court’s disclosure statement and confirmation orders pending appeal, but failed to show irreparable harm if its motion was denied or a likelihood of success on the merits of its appeal, ...

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

Where attorneys’ fees incurred by the oversecured creditor were reasonable and necessary to protect its interest in the bankruptcy cases, and the debtors agreed the rates were reasonable, the creditor was entitled to recover its fees under section 506(b) of ...

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

Where the court-approved amended joint Chapter 11 plan included a provision releasing claims against the debtor and nondebtor defendants, but allowed opt-outs, there was no “inherent authority” allowing parties previously certified as lead plaintiffs in a securities class action to ...

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

Even if a jury trial was allowed in the adversary proceeding where a video-trial had been scheduled, the defendants waived their right to such trial by not filing a timely motion to withdraw the reference. Further, despite the defendants’ request ...

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

Where the substitute trustee’s sale of real property failed to comply with provisions required by the deeds of trust, the foreclosure sale was invalid, so that, when the substitute trustee recorded the deed, she violated the automatic stay. The amount ...

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

The Pier I debtors anticipated confirming their plan within 66 days from the Feb. 17, 2020, petition date, but those plans have been impacted by the COVID-19 pandemic, as they have been ordered to close their stores to customers and ...

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