Agway liquidating trust company
Accord SNTL, 571 F.3d at 844 ("[W]e reject the position ... "[C]laims enforceable under applicable state law will be allowed in bankruptcy unless they are expressly disallowed." Travelers, 549 U. Section 506(b) provides in relevant part that "interest on [a] claim, and any reasonable fees, costs, or charges provided for under the agreement or State statute under which such claim arose" can be recovered if the creditor is oversecured. It was therefore decisive in Travelers that "the Code says nothing about unsecured claims for contractual attorney's fees incurred while litigating issues of bankruptcy law." 459 U. at 453, , it is decisive here that the Code says nothing about such fees incurred litigating things other than issues of bankruptcy law. Ogle's argument relies on expressio unius: Because section 502(e)(2) provides an exception to section 502(b) for reimbursement and contribution, it thereby forecloses an exception for post-petition attorneys' fees.
J.) held that Fidelity can collect 4,506.28 in post-petition attorneys' fees. This opinion considers whether United Merchants survives statutory revisions and the Supreme Court's decision in Travelers Casualty & Surety Co. Two Code provisions bear upon the disputed question: section 502(b) and section 506(b). A claim, in turn, is a "right to payment, whether or not such right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured." 11 U. "A claim will be deemed to have arisen pre-petition if the relationship between the debtor and the creditor contained all of the elements necessary to give rise to a legal obligation a right to payment under the relevant non-bankruptcy law." Id.
On July 18, 2008, the Bankruptcy Court concluded (as relevant here) that Agway was liable for Fidelity's post-petition attorneys' fees. Furthermore, the way the issue is framed at the outset, see id. Unless a claim is unenforceable under state law or one of the section 502(b)(2)-(9) exceptions applies, courts must "presume" that the claim "will be allowed in bankruptcy unless [it is] expressly disallowed." Id. All of the fees at issue in Travelers were incurred post-petition; so the amount was necessarily unknown when the bankruptcy petition was filed.
The parties thereafter settled all of the issues between them except the order requiring payment of post-petition attorneys' fees. § 158(a), and the district court affirmed the bankruptcy court's order. The sole question on appeal is one of law: Under the Bankruptcy Code, is an unsecured creditor entitled to recover post-petition attorneys' fees that were authorized by a pre-petition contract but were contingent on post-petition events? (as quoted above), defines the scope of the opinion broadly. Travelers construed this wording to mean that "any defense to a claim that is available outside of the bankruptcy context is also available in bankruptcy." 549 U. It follows that if an unsecured claim for post-petition fees was for that reason unrecoverable, the Travelers Court could have disposed of the claim on that simple, available ground alone.
From managed investment accounts and IRAs to trust management and estate administration, KTC Wealth Solutions is ready to service all of your individual needs.
KTC Retirement Solutions specializes in providing retirement plan services to small businesses and professional service corporations.
Search for agway liquidating trust company:
Since we do not receive income from transactions or investment products, our interests are aligned with yours and we will do what is best for you.