Summary:
The Debtor was a North Carolina corporation, wholly owned by DeCoro Limited (“Ltd.”), a Hong Kong limited liability company, which shipped furniture manufactured in China to the United States. The the furniture sales in the United States were procured by the Debtor. In 2008 or 2009, the IRS began an examination to determine whether the Debtor or Ltd. were liable for taxes in the United States. The determination hinged on whether the Debtor was a “dependent agent” of Ltd., in which case Ltd.
Summary:
Decor sought to rejoin Decofin, L.L.C. as a party, after it had been voluntarily dismissed by DeCoro earlier, and to add additional claims to its Complaint based upon alleged fraud and breach of a settlement agreement by the Defendant ("Ricci") and Decofin that occurred subsequent to the commencement of this adversary proceeding.
Summary:
Sixteen months after filing Chapter 13, the Debtor converted to Chapter 7. Capital One, the lienholder against the Debtor’s vehicle, sent the Debtor a reaffirmation agreement, which would have required immediate and full payment of the $16,149.46 balance. Debtor’s counsel requested Capital One negotiate payment terms, but received no response. No reaffirmation on the original contract terms was offered.
Summary:
Trustee sought leave to amend a Complaint, which originally alleged fraudulent conveyances under 11 U.S.C. §§ 544 and 548 and N.C.G.S. § 39.23.4 and unjust enrichment, to add a claim for preferential transfers under 11 U.S.C. § 547. The Defendants, having already answered the Complaint, objected.
Leave to amend should be denied, therefore, “only when the amendment would be prejudicial to the opposing party, there has been bad faith on the part of the moving party, or the amendment would be futile.” Edwards v.
Summary:
Because of the language of the lease, the bankruptcy court held that a lease had terminated (and consequently could not be assumed in a later bankruptcy case) following default and written demand by the Leasor of payment of past due rent within 10 days. Specific notice of termination of the lease was not required.
For a copy of the opinion, please see:Salon America- Date of and Requirement for Termina
The Trustee sought a 2004 Exam and documents from First Citizens Bank ("FCB"), based on a belief that the Debtor had used a checking account at FCB in connection with a Ponzi scheme. FCB sought to quash this discovery, arguing that the Trustee was on a fishing expedition to establish claims against FCB in relation to the alleged scheme.
Summary:
Despite testimony from the Debtors that they anticipated a substantial decrease in income due to loss of overtime, the court found that it was the circumstances at the time of the hearing that controlled. Taken with the Debtors’ retention of a boat, their failure to disclose tax refunds, overtime and bonuses, and continued 401k contributions, dismissal was appropriate.
For a copy of the opinion, please see:
Summary:
Dark brought an adversary proceeding seeking to have the debt of Thomas declared nondischargable pursuant to 11 U.S.C. § 523(a)(2). Thomas moved to dismiss pursuant to Rule 12(b)(6), arguing that "a complaint must contain sufficient factual matter, accepted as true, to 'state a claim for relief that is plausible on its face.'" Ashcroft v. Iqbal, 129 S.Ct. 1937, 1949, (2009) (quoting Bell Atl. Corp. v. Twombly, 550 U.S.
