Articles Posted in Bankruptcy

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After the bankruptcy court granted Plaintiff a discharge of her debts, Plaintiff filed this action against the named defendants, alleging misuse of funds of a trust established by her mother. Plaintiff subsequently filed a motion to substitute the bankruptcy trustee as the proper plaintiff. The trial court denied the motion, concluding that Plaintiff failed to show that she had brought the action in her own name due to a mistake. The court then dismissed the action for lack of subject matter jurisdiction. While Plaintiff’s appeal was pending, the bankruptcy court granted the bankruptcy trustee’s motion to abandon the underlying cause of action. The Appellate Court affirmed. The Supreme Court dismissed Plaintiff’s appeal as moot, holding that because the bankruptcy trustee abandoned the underlying action and Plaintiff no longer was seeking to substitute the trustee as party plaintiff, resolution of this claim would afford Plaintiff no practical relief. View "Gladstein v. Goldfield" on Justia Law

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Getty Properties Corp. leased certain properties to Getty Petroleum Marketing, Inc. by way of a master lease. Getty Marketing sublet the properties to Green Valley Oil, LLC. Thereafter, Green Valley entered into an individual sub-sublease with each Defendant, the owners of retail gasoline stations. Getty Properties subsequently terminated the master lease. Getty Marketing then filed for bankruptcy. The bankruptcy court rejected the master lease and ordered that Getty Marketing relinquish possession of the properties to Getty Properties. Getty Properties and NECG Holdings Corp. served Defendants with notices to quit, but Defendants refused to vacate the properties. Plaintiffs subsequently commenced summary process actions against Defendants. The trial court rendered judgment of immediate possession for Plaintiffs. The Supreme Court affirmed, holding that the trial court did not err in (1) determining that Plaintiffs’ notices to quit were valid; (2) admitting into evidence the lease between Getty Properties and Getty Marketing, as well as the sublease between Getty Marketing and Green Valley; (3) interpreting the various pleadings in Getty Marketing’s bankruptcy case as terminating the lease and the sublease; (4) finding that Plaintiffs proved a prima facie case for summary process; and (5) failing to dismiss the summary process action as premature. View "Getty Props. Corp. v. ATKR, LLC" on Justia Law