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in pari delicto erroneously applied to reduce damages to liquidating trust… Kirscher/Haddon affirmed, reversed (unpublished).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…]
Bankruptcy, assets transfer preliminary injunction
BANKRUPTCY: Preliminary injunction properly issued against assets transfer… Kirscher/Molloy affirmed (unpublished). [Read more…]
Rule 38/§1927 sanctions, recusal, smearing judge
SANCTIONS under FRAP 38 and §1927 imposed in form of Appellees’ fees & costs against Yellowstone Mountain Club co-founder and principal attorney for transparent attempt to wriggle out of unfavorable decisions by smearing Kirscher in recusal motion… co-counsel attempting to distance themselves chastised but not sanctioned… order. [Read more…]
Bankruptcy, appeal standing, choses in action
BANKRUPTCY: Yellowstone Club co-founder with choses in action has standing to appeal confirmation of Plan… appeal as to exculpation clause not equitably moot… appeal as to other requested relief which would require unraveling Plan equitably moot… Haddon affirmed, reversed (unpublished). [Read more…]
Bankruptcy, $22 million claim reconsideration
BANKRUPTCY: Reconsideration of order allowing B Shareholders a $22 million claim properly denied absent convincing explanation for delay in filing motion… Kirscher/Haddon affirmed (unpublished).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remedial in nature, not criminal, terminating sanctions may be avoided by posting bond… Kirscher/ Haddon affirmed (unpublished).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…]
Bankruptcy, untimely appeal, standing
BANKRUPTCY: Appeal of Kirscher’s dismissal of liquidation plan properly dismissed as untimely… no appellate standing as to confirmation order or exculpation clause… Haddon affirmed (unpublished). [Read more…]
$2,091,000 settlement, $697,000 fees, resort
SETTLEMENT: Complex 4-party deal including $2,091,000 payment by resort buyer, alleged fraudulent transfers, resort development divorce dispute… $697,000 fees to Ch. 7 [Read more…]