Legal Opinion
In re SR Real Estate Holdings, LLC
United States Bankruptcy Court, S.D. California
Decided February 16, 2014No. 13-09784-CL11PublishedCited by 2 opinions
1Opinion of the Court
MEMORANDUM DECISION AND ORDER DISMISSING CASE
CHRISTOPHER B. LATHAM, Bankruptcy Judge.
For the following reasons, the court finds that Debtor’s case was filed in bad faith and so dismisses it.
Background
The material facts in this case are not in dispute. In June 2000, Blackhawk Financial Corporation (“Blackhawk”) lent Sargent Ranch, LLC (“Sargent”) $15 million at a 15% non-default interest rate. Adams Deck ¶ 14, ECF No. 5; Debtor’s Req. for Judicial Notice, Ex. 3, ECF No. 86-4. Sargent used these funds to purchase 6,400 acres of undeveloped real property near Gilroy, California (the “Property”).…
2Cases cited4 opinions
- In the Matter of Little Creek Development Company, Debtor. Little Creek Development Co. v. Commonwealth Mortgage Corp.Court of Appeals for the Fifth Circuit · 1986
- Meadowbrook Investors' Group v. Thirtieth Place, Inc. (In Re Thirtieth Place, Inc.)United States Bankruptcy Appellate Panel for the Ninth Circuit · 1983
- In Re ArnoldCourt of Appeals for the Ninth Circuit · 1986
- United Enterprises, Ltd. v. ACI Sunbow, LLC (In Re ACI Sunbow, LLC)United States Bankruptcy Court, S.D. California · 1997
3Cited by2 opinions
- In re Premier Golf Properties, LPUnited States Bankruptcy Court, S.D. California · 2016
- Royalty Properties, LLCUnited States Bankruptcy Court, N.D. Illinois · 2019