Legal Opinion
Casino Caribbean, LLC v. Money Centers of America, Inc. (In re Money Center of America, Inc.)
United States Bankruptcy Court, D. Delaware
Decided January 28, 2016No. Case No. 14-10603(CSS); Adv. Proc. Case No.: 14-50437Published
1Opinion of the Court
OPINION 1
Sontchi, J.
Introduction
The Plaintiffs in this action commenced an adversary proceeding against the Debtors, claiming that one of the Debtors, pursuant to a contractual relationship, held funds owned by them as a mere conduit. The Plaintiffs seek a ruling by the Court that these funds are not property of the estate, and therefore the automatic stay should be lifted and the Debtors should be required to remit them to the Plaintiffs. Because the Debtors’ Operating Reports showed a risk that the cash burn associated with paying professionals may leave the Debtors with insufficient cash…
2Cases cited13 opinions
- Marin Motor Oil, Inc. v. MichaelsCourt of Appeals for the Third Circuit · 1982
- Mountain Top Condominium Association v. Dave Stabbert Master Builder, Inc.Court of Appeals for the Third Circuit · 1995
- Liberty Mutual Insurance Company v. Treesdale, Inc.Court of Appeals for the Third Circuit · 2005
- In Re HBA East, Inc.United States Bankruptcy Court, E.D. New York · 1988
- Golden Mortgage Fund 14 v. Kennedy (In Re Golden Triangle Capital, Inc.)United States Bankruptcy Appellate Panel for the Ninth Circuit · 1994
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