In Re Cheek Case Study

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Early warning, she managed to save most of the inventory, but the shop is ruined. The beaches have also been hit very hard, and the she is rapidly losing business. By mid-July, Leilani can no longer pay her bills. She wants to avoid liquidating her business, because she is hopeful that next summer will be better, so she files for Chapter 11.
Issues
Will the bankruptcy court allow sale her business for a lower amount.
Application of law The fact that of these case is Leilani open up a seasonal surf shop where she stole surf wear for the beach. She grew up in a y e and understood the beach necessity of having a surf shop on what her customer base would be. She and Colby got in business together and open the shop unfortunately and June …show more content…
Cheek (In re Cheek), 157 B.R. 1003 the court denied the creditors' request to deny debtor her discharge for failure to maintain records or making a false oath in the bankruptcy proceedings. As in the case of OnBank & Trust Co. v. Siddell (In re Siddell), 191 B.R. 544, 1996 Bankr. LEXIS 127, 35 Collier Bankr. Cas. 2d (MB), Eventhought, part of these decision was partially denied. However, in the case of Lansdowne v. Cox (In re Cox), 41 F.3d 1294, 1994 U.S. App. LEXIS 33698, 94 Cal. Daily Op. Service 9172, 94 D.A.R. 17033, Bankr. L. Rep. (CCH) P76223, 32 Collier Bankr. Cas. 2d (MB) 745 Caution: Possible negative treatment was Partially denied. Finally, as in the case of Florio v. Florio (In re Florio), 187 B.R. 654, 1995 Bankr. LEXIS 1476 Caution: Possible negative treatment the court Parsley denied the …show more content…
v. Bachrach (In re Bachrach Clothing, Inc) the court affirmed and granted defendants were entitled to judgment on all fraudulent transfer counts and that such determination also meant that defendants were entitled to judgment in their favor on claims for breach of fiduciary duty. As in the case of Granfinanciera, S.A. v. Nordberg, 492 U.S. 33, 43, 109 S. Ct. 2782, 106 L. Ed. 2d 26 (1989) the court found that transfer with a fraudulent transfer. Where, in the case of Granfinanciera and Langenkamp v. Culp, 498 U.S. 42, 111 S. Ct. 330, 112 L. Ed. 2d 343 (1990) the court affirmed that the supported this assumption. Finally, as in the case of In re Menotte v. United States (In re Custom Contractors, LLC), 462 B.R. 901 (Bankr. S.D. Fla. 2011); Burtch v. Seaport Capital, LLC (In re Direct Response Media, Inc.), 466 B.R. 626, 645-46 (Bankr. D. Del.
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