BANKRUPTCY: Debtor’s intervention constituted consent to jurisdiction… divorce releases constituted fraudulent transfer, do not shield Debtor from liabilities to Yellowstone Club Liquidating Trust… Yellowstone Mountain Club’s fiduciary claims not time-barred… Debtor breached fiduciary duties to Club even though Club technically owned by alter ego… Debtor’s loan from Club was constructively fraudulent transfer… in pari delicto erroneously applied to reduce damages to liquidating trust… Kirscher/Haddon affirmed, reversed (unpublished). [Read more…]
Sanctions, “frivolous” bankruptcy counterclaim
SANCTIONS improperly imposed for “frivolous” counterclaim against Yellowstone Club bankruptcy trustee in personal capacity… Gary Feess (Central Dist. of Calif.) reversed (unpublished). [Read more…]
Bankruptcy/sanctions, $13,820,140 property/bond
BANKRUPTCY/SANCTIONS: Appeal from Bankruptcy Court’s denial of motion to vacate preliminary injunction moot… alternative sanctions of liability of greater of $13,820,139.84 or value of property and bond in like amount remedial in nature, not criminal, terminating sanctions may be avoided by posting bond… Kirscher/ Haddon affirmed (unpublished). [Read more…]