February 2011 Archives
Answer: Apparently not in the Northern District of Illinois
Upshot: Here, the Court upheld an injunction entered by the Bankruptcy Court after determining that
- The participation of these principles was essential to the company"s reorganization
- If these principles were distracted by this lawsuit the reorganization would likely fail
- Many other creditors would be harmed financially if this reorganization failed; and
- The creditor seeking to collect only faced only a temporary stay, anyway.
In re Earl W. Shields, 10-000943
800 Springer v. Shields, 10-00693
Issued: February 8, 2011
By Judge: John H. Squires
Click here to download and view the Opinion in .pdf format.
Erie Playce LLC, 10-022637Issued: December 7, 2010
By Judge Pamela S. Hollis Click here to view and download the opinion in .pdf format.
According to this piece in the ABA Journal quoting the Palm Beach Post, South Florida foreclosure mill Ben-Ezra & Katz was terminated by Fannie Mae after it was found in contempt by Miami-Dade Circuit Judge Maxine Cohen Lando for, among other things, lying to the Court and eventually filing the documents it claimed to have lost, only to learn they weren"t the right documents.
The de-activation of the firm by Fannie will have far-reaching consequences. Just look at the same action taken months ago with respect to the office of David J. Stern in Plantation, Florida. When Fannie Mae gave them the boot the result was that foreclosures across the State were dismissed with no clear indication of when, if ever, they will be refilled.
Perhaps the most ironic part of the fallout from the botched case was that now the hundreds of employees laid off by the firm as a result will probably need to defend against their own foreclosures.
Now we"re having fun!
Seriously? This is a clusterfu@# waiting to happen. And we won't have to wait long, either.
Court will be open for business as of February 3, 2011.Visit the Judge's website to see his/her pecific schedule.Click here to view the details.