Case law

In Re National Steel Corp.

316 B.R. 287 · United States Bankruptcy Court, N.D. Illinois · Oct 26, 2004

To qualify as actual and necessary expenses, expenditures must also benefit the estate as a whole. In re Jartran, Inc., 886 F.2d 859, 871 (7th Cir.1989). … National Steel's reliance on this case is clearly misplaced.

Computer World Solution, Inc. v. Apple Fund, L.P. (In Re Computer World Solution, Inc.)

427 B.R. 680 · United States Bankruptcy Court, N.D. Illinois · Apr 15, 2010

His background as a Certified Public Accountant and financial advis- or to companies in financial distress qualified him to testify as an expert witness regarding the Debtor’s pre-petition and post-petition financial affairs … Here, the Debtor’s schedules clearly show that the Debtor’s liabilities ($37,318,261.70) greatly outweighed its assets ($4,122,949.16) so general unsecured creditors will receive much less than 100% on their claims.

Official Committee of Unsecured Creditors v. Fountainhead Group, Inc. (In re Bridgeview Aerosol, LLC)

538 B.R. 477 · United States Bankruptcy Court, N.D. Illinois · Sep 28, 2015

Salary payments often qualify as transfers in the ordinary course of business. See Picard v. Madoff (In re Bernard L. Madoff Inv. Sec. LLC), 458 B.R. 87 , 118 n. 22 (Bankr.S.D.N.Y.2011). … The reasoning of the court in Solomon is instructive in this respect: The language of the checks the landlord sent to the tenants clearly refer to plaintiffs’ security deposits being paid in full.

1518 West Chicago Avenue, LLC v. South Melrose, LLC (In Re 1518 West Chicago Avenue, LLC)

427 B.R. 439 · United States Bankruptcy Court, N.D. Illinois · Apr 16, 2010

Seventh Circuit, by holding that the rents were subject to the bank’s security interest, and by reinstating the bankruptcy court’s decision allowing the debtor to continue to conditionally use the rents as “cash collateral,” clearly … And that is enough, under §§ 552(b) and 544, to ensure that a pre-petition security interest in rents will carry on after bankruptcy, thus qualifying such rents as cash collateral under § 363(a).” Id. at 1245.

Matter of Mich. Ave. Nat. Bank

2 B.R. 171 · United States Bankruptcy Court, N.D. Illinois · Jan 11, 1980

in the conveyance clause the words "GRANT" and "CONVEY", (b) in the quantity clause the words ". . . any and all rights and interests of every name and nature now or hereafter owned by the Mortgagor . . . " (c) and the qualifying … It did not cause a sale, and it did not establish a deficiency.

Barbatano v. Glickman (In re Corus Bankshares, Inc.)

503 B.R. 44 · United States Bankruptcy Court, N.D. Illinois · Apr 23, 2013

The Plan led to the establishment of a Litigation Trust, with Barba-tano as its Trustee, to pursue CBI’s claims against its former officers and to distribute any proceeds from those claims. Id. at ¶ 7. … If the appraisals come in too low, the buyer would qualify for less financing.” 85.

In Re Central Ice Cream Co.

59 B.R. 476 · United States Bankruptcy Court, N.D. Illinois · Jan 23, 1986

Chaitman is the duly appointed, qualified and acting Trustee of Central. … Refusing this settlement would clearly mean the risk of such faltering in the future.

In Re Chicago Partnership Board, Inc.

237 B.R. 726 · United States Bankruptcy Court, N.D. Illinois · Aug 17, 1999

See also Omni Mut, 193 B.R. at 682 (noting that it was uncontested that the limited partnership interests were not registered with the SEC and thus failed to qualify as a “security” pursuant to SIPA). … When forced to choose between a specific statutory provision and a general savings clause, the Court should err on the side of the specific provision in the belief that it reflects congressional intent more clearly.

In Re Stoecker

151 B.R. 989 · United States Bankruptcy Court, N.D. Illinois · Feb 23, 1993

The Department maintains, however, that by previously filing responsible officer tax claims, it has clearly evidenced its intention of claiming any and all responsible officer liability against the Debtor and his bankruptcy … Although Danielson did not decide the issues raised here, it expressly references Bankruptcy Rule 3002(c), noting that the Seventh Circuit regularly holds that sloth, ignorance or other negligence does not qualify as excusable

Taylor v. Snyder (In re Snyder)

542 B.R. 429 · United States Bankruptcy Court, N.D. Illinois · Dec 7, 2015

The Debtor was clearly aware that she had not completed the project and yet personally prepared and recorded a statement of claim for mechanics lien in December 2007 that falsely stated that the “job was completed on the … Moreover, the court found that “knowledge that legal rights are being violated is insufficient to establish malice.” Id.

D/C Distribution, LLC

United States Bankruptcy Court, N.D. Illinois · Jul 21, 2020

(“Every plaintiff in federal court must establish that it has standing to assert its claims.”). … In applying the Fernstrom factors, the court is mindful that KLLLC has argued that the Claimants should not qualify for any relief as there is no pending civil action.

In Re 203 North LaSalle Street Ltd. Partnership

190 B.R. 567 · United States Bankruptcy Court, N.D. Illinois · Dec 5, 1995

Clearly, the debtor still hopes to establish a revolving loan arrangement with the bank, and the plan sets up the mechanism for such an arrangement. … The language of the subsection clearly establishes its reach: “[T]he feasibility standard is whether the plan offers a reasonable assurance of success. Success need not be guaranteed.” Kane v.

In re Tabor

583 B.R. 155 · United States Bankruptcy Court, N.D. Illinois · Apr 11, 2018

The court determined that this argument lacked merit as Schaller did not establish the collateral estoppel elements. … Such matters clearly strike to the central objectives of the Bankruptcy Code.

Herzog v. Leighton Holdings, Ltd. (In Re Kids Creek Partners, L.P.)

212 B.R. 898 · United States Bankruptcy Court, N.D. Illinois · Sep 23, 1997

Moreover, the facts clearly establish that the dissolution of KCPLP was caused not by Leighton’s cessation of funding, but by mismanagement, noncompliance with commitments to the lender, and threat of an overwhelming capital … However, the weight of evidence did not establish that McNab agreed that Leighton *930 would become an investor, and the loan documents clearly and precisely established a lending relationship, not ownership.

In Re Goldblatt Bros., Inc.

66 B.R. 337 · United States Bankruptcy Court, N.D. Illinois · Sep 24, 1986

Consequently, it is sufficient to establish facts and circumstances to enable a court to estimate, based upon its judgment, the amount of damages incurred. See C.D. Stimson v. Porter, supra at 414. … This amount is clearly allocable under the statute and there is no dispute on that point. Id. 465 F.Supp. 629 , 633.

WTE-S & S Ag Enterprises, LLC v. GHD, Inc. (In re WTE-S & S Ag Enterprises, LLC)

575 B.R. 397 · United States Bankruptcy Court, N.D. Illinois · Aug 18, 2017

Of equal significance, the “economic waste” doctrine clearly applies to the facts of this case. … However, his basis for that conclusion was not clearly articulated.

Grochocinski v. Spehar Capital, LLC (In Re CMGT, Inc.)

458 B.R. 473 · United States Bankruptcy Court, N.D. Illinois · Oct 18, 2011

Clearly, the Trustee filed the Adversary Proceeding because he believed that Spehar did not have a valid pre-petition lien on CMGT’s assets. … The standard for objective bad faith, on the other hand, “does not require a finding of malice or ill will; reckless indifference to the law will qualify.” Id.

In Re Entertainment, Inc.

223 B.R. 141 · United States Bankruptcy Court, N.D. Illinois · Aug 3, 1998

The estate and its creditors clearly benefited directly from Lease assumption and continued operations on the leased premises. … However, evidence did not establish this point.

Brown v. Outlaw

United States Bankruptcy Court, N.D. Illinois · Sep 15, 2020

All of the aforementioned adequately establish that Plaintiff succeeds on his cause of action under the ICFA. … Rather, the one-page, short order clearly delineates on its face the nature of its purpose.

In Re Telesphere Communications, Inc.

179 B.R. 544 · United States Bankruptcy Court, N.D. Illinois · Dec 22, 1994

Even more clearly, the professional fees were of dubious value to Telesphere. … Telesphere would also be likely to establish insolvency or inadequate capital as a result of the transaction.