New Bankruptcy Opinion: IN RE DEL MAR COMMERCE CO. – Bankr. Court, ND California, 2016

In re Del Mar Commerce Co., Chapter 11, Debtor.

No. 91-47979.

United States Bankruptcy Court, N.D. California, Oakland Division.

April 1, 2016.

MEMORANDUM AFTER HEARING

WILLIAM J. LAFFERTY, III, Bankruptcy Judge.

On March 16, 2016, the Court held a hearing on the Motion for Order Confirming Powers and Authority of Liquidating Trustee (doc. 293) (the “Motion”) filed by Frank Satterwhite Liquidating Trustee (the “Liquidating Trustee”) of Debtor. The Motion requests confirmation of the Liquidating Trustee’s power and authority to administer the property of the Liquidating Trust pursuant to the confirmed Plan in this case. Appearances are noted on the record.

Based on the Court’s review of the docket, the arguments of counsel, and pursuant to the Order Confirming Creditor’s Plan of Reorganization entered on November 10, 1993 and the Final Decree entered on March 12, 1998 which indicates that the case could be reopened pursuant to numbered paragraph 7, the case having been reopened on January 19, 2016, and FOR GOOD CAUSE APPEARING, THE COURT HEREBY confirms that the Liquidating Trustee has the power and authority to administer the property of the Liquidating Trust.

The Liquidating Trustee’s power and authority to administer the property includes, without limitation, Debtor’s undivided 50% interest in certain parcels of real property located in the City of Richmond, County of Contra Costa, State of California, among which are five (5) parcels identified as Assessor’s Parcel Numbers XXX-XXX-XXX-X, XXX-XXX-XXX-X, XXX-XXX-XXX-X, XXX-XXX-XXX-X, and XXX-XXX-XXX-X. The Liquidating Trustee has such power and authority until all of such property is sold, distributed, returned to Debtor, or otherwise utilized pursuant to the provisions of the confirmed Plan in this case.

Save trees – read court opinions online on Google Scholar.

300x600

Leave a Reply