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Legal Opinion

In Re Daewoo Logistics Corp.

United States Bankruptcy Court, S.D. New York

Decided October 5, 2011No. 19-10390PublishedCited by 9 opinions

1Opinion of the Court

BENCH MEMORANDUM DENYING DAEWOO’S MOTION PURSUANT TO SECTIONS 105(a) AND 362 OF THE BANKRUPTCY CODE FOR AN ORDER FINDING COASTAL IN VIOLATION OF THE RECOGNITION ORDER

BURTON R. LIFLAND, Bankruptcy Judge.

Before this Court is the motion through order to show cause of Daewoo Logistics Corporation (“Daewoo”), pursuant to sections 105(a) and 362 of the Bankruptcy Code (the “Code”), seeking an order directing Coastal Cargo Company Inc. (“Coastal”) to release $225,000 posted by Daewoo as security for Coastal releasing the M/V Crystal Ocean (the “Vessel”), a vessel chartered, but not owned, by Dae-woo…

2Cases cited9 opinions

  1. In Re Bear Stearns High-Grade Structured Credit Strategies Master Fund, Ltd.District Court, S.D. New York · 2008
  2. In Re SPhinX, Ltd.United States Bankruptcy Court, S.D. New York · 2006
  3. In Re Atlas Shipping A/SUnited States Bankruptcy Court, S.D. New York · 2009
  4. In RE: MILLENIUM SEACARRIERS, INC., DEBTOR, UNIVERSAL OIL LTD, LIBERIAN INTERNATIONAL SHIP & CORPORATE REGISTRY, LLC v. ALLFIRST BANK, FORMERLY KNOWN AS FIRST NATIONAL BANK OF MARYLAND, FORMERLY KNOWN AS WAYLAND INVESTMENT FUNDS, LLC, ASPIDA TRAVEL, LTD, ASSURANCE FORENINGEN SKULD (GJENSIDIG)—DEN DAN, BREAKBULK MARINE SERVICES, LTD., CANFORNAV, LTD., THE CREW OF THE DEBTOR'S VESSELL DET NORSKE VERITAS FUEL AND MARINE MARKETING, GULF STATES MARINE, INC, IHI MARINE CO., LTD., KENT TRADE & FINANCE, MARITIME TRANSPORT WORKERS UNION OF RUSSIA, OMNI NAVIGATION, LTD., ORIENT SHIPPING, PACNAV, S.A., PANCOAST TRADING, S.A., TOTAL FINA ELF LUBRIFIANTS, S.A., UNISERVICE MEDITERRA, PRAXIS ENERGY AGENTS S.A., PRAXIS ENERGY AGENTS S.A. v. ALLFIRST BANK, FORMERLY KNOWN AS FIRST NATIONAL BANK OF MARYLAND, FORMERLY KNOWN AS WAYLAND INVESTMENTS FUNDS, LLC, MILLENIUM SEACARRIERS, INC., IVY NAVIGATION, LTD., MILLENIUM II, INC., MILLENIUM IV, INC., MILLENIUM V, INC., MILLENIUM VI, INC., MILLENIUM ALEKSANDER, INC., MILLENIUM AMETHYST, INC., MILLENIUM ASSET INC., MILLENIUM BALTIC, INC., ASPIDA TRAVEL, LTD., ASSURANCE FORENINGEN SKULD (GJENSIDIG)—DEN DAN, BREAKBULK MARINE SERVICES, LTD., CANFORNAV, LTD., THE CREW OF THE DEBTOR'S VESSELL DET NORSKE VERITAS FUEL AND MARINE MARKETING, GULF STATES MARINE, INC, IHI MARINE CO., LTD., KENT TRADE & FINANCE, MARITIME TRANSPORT WORKERS, UNION OF RUSSIA, OMNI NAVIGATION, LTD., ORIENT SHIPPING, PACNAV, S.A., PANCOAST TRADING S.A., TOTAL FINA ELF LUBRIFIANTS, S.A., UNISERVICE MEDITERRACourt of Appeals for the First Circuit · 2005
  5. In Re Artimm, SrLUnited States Bankruptcy Court, C.D. California · 2005

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3Cited by9 opinions

  1. Ad Hoc Group of Vitro Noteholders v. Vitro S.A.B. De C.V.Court of Appeals for the Fifth Circuit · 2012
  2. Ad Hoc Grp of Vitro Noteholder v. Vitro SAB de CVCourt of Appeals for the Fifth Circuit · 2012
  3. Ad Hoc Grp of Vitro Noteholder v. Vitro SAB de CVCourt of Appeals for the Fifth Circuit · 2013
  4. Ad Hoc Grp of Vitro Noteholder v. Vitro SAB de CVCourt of Appeals for the Fifth Circuit · 2012
  5. Fintech Investments, Limited v. Ad Hoc Group of ViCourt of Appeals for the Fifth Circuit · 2013

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