In re Newport Offshore, Ltd.

4 Citing cases

  1. In re Rooster, Inc.

    127 B.R. 560 (Bankr. E.D. Pa. 1991)   Cited 22 times
    Noting but not resolving this statutory conflict

    The debtor asserts that a creditor may not setoff a claim after discharge, because to do so would violate the statutory injunctive provisions of 11 U.S.C. ยง 524(a)(2), and cites to a number of decisions so stating. Accord In re Dezarn, 96 B.R. 93 (Bankr.E.D.Ky. 1988); In re Newport Offshore Ltd., 78 B.R. 383 (Bankr.D.R.I. 1987), on remand, 86 B.R. 325 (Bankr.D.R.I. 1988); In re Johnson, 13 B.R. 185 (Bankr.M.D.Tenn. 1981).

  2. In re Chase Sanborn Corp.

    127 B.R. 903 (Bankr. S.D. Fla. 1991)   Cited 12 times

    It is well-settled that the confirmation of the plan stands as a res judicata bar to the untimely assertion of ABC's counterclaim. See, e.g., Miller v. Meinhard Commercial Corp., 462 F.2d 358 (5th Cir. 1972); In re Constructors of Florida, Inc., 349 F.2d 595, 599 (5th Cir. 1965), cert. denied, 383 U.S. 912, 86 S.Ct. 886, 15 L.Ed.2d 667 (1966); In re General Coffee Corp., 85 B.R. 905, 906-07 (Bankr.S.D.Fla. 1988); In re Newport Offshore, Ltd., 78 B.R. 383 (Bankr.D.R.I. 1987); see also 11 U.S.C. ยง 1141(a) (". . . the provisions of a confirmed plan bind the debtor . . ., and any creditor [among others], whether or not the claim or interest of such creditor . . . is impaired under the plan and whether or not such creditor . . . has accepted the plan."). It would be highly prejudicial and unfair to the Estate's other creditors to permit ABC to assert belatedly an $11 million fraud claim that ABC failed to disclose to them when they voted on the plan.

  3. In re Henderberg

    108 B.R. 407 (Bankr. N.D.N.Y. 1989)   Cited 16 times

    Therefore, this Court holds that the Order of Confirmation adopting the terms of the Plan is a final judgment for purposes of res judicata on all matters relevant to the confirmation, whether raised or not, and hence, binding upon Rome and Oneida County. See Republic Supply Co. v. Shoaf, 815 F.2d 1046, 1050 (5th Cir. 1987); Virgin Islands Bureau of Internal Revenue v. St. Croix Hotel Corp., 60 B.R. 412 (D.Virgin Islands 1986); In re White Farm Equipment Co., 38 B.R. 718, 724 n. 13 (N.D.Ohio 1984); In re Monroe Well Service, Inc., 80 B.R. 324, 334 (Bankr.E.D.Pa. 1987); In re Newport Offshore, Ltd., 78 B.R. 383, 386 (Bankr.D.R.I. 1987); Crabtree v. United States (In re Crabtree), 76 B.R. 208, 210 (Bankr.M.D.Fla. 1987); Board of County Commissioners v. Coleman American Properties, Inc. (In re American Properties, Inc.), 30 B.R. 239, 246 (Bankr.D.Kan. 1983). See also Stoll v. Gottlieb, 305 U.S. 165, 59 S.Ct. 134, 83 L.Ed. 104 (1938).

  4. In re Charter Co.

    103 B.R. 302 (Bankr. M.D. Fla. 1989)   Cited 9 times
    Denying offset due to stay violation

    A creditor's setoff privilege is waived if the creditor fails to obtain bankruptcy court approval prior to confirmation of the debtor's plan of reorganization. See In Re Newport Offshore Ltd., 78 B.R. 383 (Bankr.D.R.I. 1987). In this case the plans of CIOC and CCOC were confirmed on December 18, 1986.