Court refused to set aside compromise agreement between DIP & lenders in which debtors agreed to pay 50% of banks' claims and give up ability to challenge banks' liens. The terms of the agreement were fully disclosed & unsecured creditors did not object
Opinions
The District of Nebraska offers a database of opinions for the years 1997 to 2011, listed by year and judge. For a more detailed search, enter the keyword or case number in the search box above.
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Hy-Gain Electronics Corp.; Hy-Gain de Puerto Rico, Inc.; Hy-Gain Electronics Systems Corp., BK78-0-25, BK78-0-26; BK78-0-81 06/22/197906/22/1979
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Fremont Hormel Employees Credit Union v. Jack & Barbara Shelton (In re Shelton), BK79-0-152 and -153 06/20/197906/20/1979
Court found no exception to discharge for breach of fiduciary duty where the debtor sold loan collateral with creditor's permission but thereafter failed to pay the creditor; the parties' relationship was simply as debtor & creditor, not as fiduciaries
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National Bank of Commerce Trust & Savings Ass'n v. West Bellevue Co. (In re West Bellevue Co.), BK76-0-1239 06/20/197906/20/1979
The complaint in this adversary proceeding was dismissed when the plaintiff failed to appear for trial. However, the court retained jurisdiction over the debtor-defendant's counterclaim
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Mark Laughlin, Trustee v. Hockenberger & Chambers Co. (In re Thurston Corp.), BK77-0-356, Civil No. 79-O-33 06/15/197906/15/1979
On appeal, the district court affirmed the bankruptcy court's holding that, under the facts of the case, the infusion of funds by these creditors to the debtor corporation did not constitute bona fide loans but, rather, were contributions of capital
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J-G Sales Co., Greenheck Fan Corp., & Wholesale Heating & Cooling Supplies Co. v. Robert's Sheet Metal Co. (In re Robert's Sheet Metal Co.), BK79-O-82 06/13/197906/13/1979
Creditor suppliers filed an involuntary bankruptcy petition against the debtor. Of the several grounds alleged, the only one with merit concerned the debtor's transfer of real estate, which the court found was done with intent to hinder creditors
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Jerrold L. Strasheim, Trustee v. Commercial National Bank & Trust Co. (In re P.H. Weitzel Insurance Agency, Inc.), BK77-0-1116 06/01/197906/01/1979
Order authorizes bankruptcy trustee to sell debtor's interest in Oklahoma oil and gas leases free and clear of liens and encumbrances. Those liens and encumbrances shall attach to the sale proceeds and their priority and validity will be determined later
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J. Robert Scott v. First Central Company (In re Scott), BK79-L-136 05/31/197905/31/1979
The court enjoined termination of the lease for Chapter XI debtor's business premises because debtor was making post-petition rental payments and because lessor's financial problems were not solely the result of the debtor's pre-petition delinquency
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Southwest Bank of Omaha v. Cheryl Lane Rubel (In re Rubel), BK78-O-1586 05/30/197905/30/1979
Court found for debtor-defendant regarding dischargeability. The court held that the debtor did not use false financial statements to obtain loans, nor did she willfully and maliciously convert the collateral (a car) by not obtaining title in her name
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Ralston Bank v. Randall & Carol Barker (In re Barker), BK79-O-133 and -134 05/30/197905/30/1979
The debtors borrowed money from plaintiff bank to purchase a car. The wife then obtained another loan using the car as collateral and delivered the car title to the second creditor. Court held that wife willfully and maliciously converted bank's property
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First West Side Bank v. Elliott Bathen (In re Bathen), BK78-O-1118 05/11/197905/11/1979
Debt was excepted from discharge because the debtor falsely represented his financial situation when he obtained the loan & either did not intend to repay it or recklessly disregarded his inability to do so. Repayment is implicit in a credit transaction