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Case Updates from Findlaw

6th Circuit

Official Comm. of Unsecured Creditors v. Anderson Senior Living Prop., LLC.
Appeal from the Bankruptcy Appellate Panel’s (BAP) grant of debtors’ motion to dismiss as moot per Sec. 363(m) plaintiffs’ appeal from bankruptcy court’s authorization of the sale of debtors’ interests in co-owned properties as well as undivided interests of tenants in common (TIC) is affirmed. BAP properly determined that 363(m) moots the appeal – even though the bankruptcy court approved the sale of the TIC property interests pursuant to section 363(h), the debtors ultimately sold the properties pursuant to section 363(b) and that sale was never stayed. Read more…

8th Circuit

US v. Ritchie Special Cred. Invs., Ltd.

In intervenor’s application to intervene in adversary proceeding initiated by the government pursuant to 18 U.S.C. 1345 against alleged author of a Ponzi scheme, denial of application is affirmed where: 1) litigation progressed substantially between the initiation of proceedings and intervenor’s second motion to intervene; and 2) intervenor had knowledge of all the facts surrounding the district court’s injunction, and failed to take issue with it when first presented with an opportunity to do so. Read more…

Ritchie Special Cred. Invs., Ltd. v. US Trustee
In a creditor’s objection to the appointment of a bankruptcy trustee, arguing that the trustee did not qualify as a “disinterested person” as required by 11 U.S.C. 1104(d), the denial of the objection is affirmed where: 1) bankruptcy court did not abuse its discretion in concluding that the trustee’s role and interests as a receiver did not predispose him towards forfeiture or amount to a disqualifying material adverse interest; and 2) there was no abuse of discretion in the bankruptcy court”s determination that creditor failed to show that it would be prejudiced by the trustee’s appointment as trustee in the jointly administered estates. Read more…

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