In Re GOCO Realty Fund I
United States Bankruptcy Court, N.D. California
1Opinion of the Court
OPINION
MARILYN MORGAN, Bankruptcy Judge.
I. INTRODUCTION
The debtor, GOCO Realty Fund I (“GOCO”), a California Limited Partnership, paid its attorneys in excess of $725,-000 prior to filing the bankruptcy petition. Of this sum, more than $500,000 was paid as a retainer for a suit against its only secured creditor, New West Federal Savings & Loan Association (“New West”). New West moved for the return of the pre-petition legal retainers arguing that to permit GOCO to pay its counsel from cash subject to New West’s lien compels New West involuntarily to fund litigation against its interest. GOCO…
2Cases cited28 opinions
- Will v. Michigan Department of State PoliceSupreme Court of the United States · 1989
- Butner v. United StatesSupreme Court of the United States · 1979
- Granfinanciera, S.A. v. NordbergSupreme Court of the United States · 1989
- United States v. WilsonSupreme Court of the United States · 1975
- In Re McDonald Bros. Construction, Inc.United States Bankruptcy Court, N.D. Illinois · 1990
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- J.H. Streiker & Co. v. SeSide Co.District Court, E.D. Pennsylvania · 1993
- Kun v. Mansdorf (In Re Woodcraft Studios, Inc.)District Court, N.D. California · 2011
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