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Wednesday, October 25, 2017

Marc Randazza Bankruptcy Challenges by Liberty Media

Marc Randazza Bankruptcy and Liberty Media

"In the meantime, Randazza's old employer, Liberty Media, is challenging his Nevada court filing seeking Chapter 11 bankruptcy protection. In that filing, Randazza claimed assets of up to $10 million, and liabilities of up to $50 million. Randazza included in his liabilities a potential $10 million judgement against him in a lawsuit with a blogger, Crystal Cox of Washington; $1 million to Liberty; as well as another $1 million judgement against him in a lawsuit he's embroiled in with Roca Labs of Largo, Florida."

Source and More
http://1701news.com/node/1183/so-who-klingon-lawyer-marc-randazza.html

Liberty Media Opposition Motion (Doc. 38)
"In an effort to avoid payment of the entire monetary component of the IAA, and before the
IAA could be confirmed by the state court, Debtor, by and through its counsel L&Z, initiated
settlement negotiations with E/L. During these negotiations, Debtor consistently used the threat of
a bankruptcy petition in an attempt to negotiate a sum of payment significantly reduced from that
awarded to E/L in the IAA. Not only did Debtor use the threat of bankruptcy as a cudgel, but he andhis allegedly estranged wife have initiated sealed divorce proceedings, and dissipated assets."

"Debtor attempted delay for two reasons: (1) in a misguided effort to stay the award of attorneys fees by the Arbitrator, as well as the confirmation of the IAA by the state court; and (2) to push the date of petition out more than 90 days, so that Debtor’s fraudulent, improper, and preferential transfers could not be clawed back, including payments to his attorneys L&Z.

According to Debtor’s schedules filed on September 11, 2015, Debtor has deposited with
L&Z sums totaling $94,000. [ECF 15] On September 22, 2015, L&Z filed the instant Application
to Employ and Retain Larson & Zirzow, LLC as Attorneys for the Debtor Nunc Pro Tunc to the
Petition Date."

"According to the retainer agreements and statements made therein, L&Z entered into
representation of Debtor as of June 11, 2015 for “pre-bankruptcy settlement negotiations and to
attend a settlement conference. The Debtor paid L&Z a flat fee of $10,000.00 for this engagement.”

"L&Z also purports to have been retained, via two separate retainer agreements, for representation in both a bankruptcy action, and a potential adversary proceeding."

"the second was for potential nondischargeability litigation. "

"L&Z’s Application is deficient as it relates to exactly what the scope of services are that it
has billed for as of yet. In fact, L&Z only informs as to the fact that it has received a total sum of
$94,000 for legal services in connection with Debtor’s Chapter 11 case. “Of this sum, L&Z billed
and was paid the sum of $26,908.82 prior to the Petition Date, and L&Z currently holds in trust the
remainder sum of $67,091.18 (the “Remaining Retainer”) a portion of which has been allocated
pursuant to the Representation Agreements for potential adversary proceedings.” [ECF 18 at ¶16 (emphasis added)] This Application utterly fails to identify and delineate what services were
provided totaling $26,908.82."

"In any event, all transfers were made within 90 days of the filing of Debtor’s Petition. As
such, the “pre-bankruptcy” retainer fees charged and collected by L&Z constitute an avoidable
preferential transfer, and the funds must be clawed back to the estate. As a result, L&Z will lose
their status as “disinterested parties” and are therefore not qualified to serve as attorneys for the
Debtor.

II. L&Z’S APPLICATION IS INSUFFICIENT TO SATISFY THE TEST FOR
APPROVAL OF HIRING OF PROFESSIONALS.

L&Z’s employment as attorneys for the debtor in possession in a Chapter 11 case is
governed by § 327(a) of the Bankruptcy Code, which requires court approval for the attorney's
employment. The bankruptcy court is charged with “ensur[ing] that attorneys who represent the
debtor do so in the best interests of the bankruptcy estate.” In re Park–Helena Corp., 63 F.3d 877,
880 (9th Cir.1995). Under § 327, an attorney for a debtor cannot “hold or represent an interest
adverse to the estate”; he or she must be a “disinterested person.” 11 U.S.C. § 327(a).

Any creditor of the estate, or anyone with “an interest materially adverse to the interest of the estate ... by reason  of any direct or indirect relationship to, connection with, or interest in, the debtor,” is not a disinterested person. 11 U.S.C. §§ 101(14)(A), (C). A “creditor” includes any “entity that has a
claim against the debtor that arose at the time of or before the order for relief concerning the
debtor.” § 101(10)(A). A “claim” includes any “right to payment.” § 101(5)(A).
To enable the Bankruptcy Court to evaluate an attorney's potential employment, Rule
2014(a) requires that an application for employment of an attorney under § 327 “shall be
accompanied by a verified statement of the person to be employed setting forth the person's
connections with the debtor, creditors, any other party in interest, their respective attorneys and
accountants, the United States trustee, or any person employed in the office of the United States
trustee.” Fed. R. Bankr.P. 2014(a). This disclosure requirement is applied “strictly.” Park–Helena,
63 F.3d at 881.

An attorney approved for employment under § 327 must apply for interim or final
compensation, which is subject to approval of the Bankruptcy Court. 11 U.S.C. §§ 328–31; see also
In re Chapel Gate Apartments, Ltd., 64 B.R. 569, 575 (Bankr.N.D.Tex.1986) (noting that “fees in
bankruptcy cases ... are subject to review, modification, and outright cancellation by the Court”).
Rule 2016(a) requires an attorney seeking compensation and/or reimbursement of expenses to file
an application “setting forth a detailed statement of (1) the services rendered, time expended and
expenses incurred, and (2) the amounts requested.”

The fee application must also include, inter alia, “a statement as to what payments have theretofore been made or promised to the applicant for services rendered or to be rendered in any capacity whatsoever in connection with the case, [and] the source of the compensation so paid or promised.” Id. After notice and a hearing, the court may award “reasonable compensation for actual, necessary services rendered,” as well as “reimbursement for actual, necessary expenses.” §330(a)(1)."

Source and Full Filing
http://ia800807.us.archive.org/26/items/gov.uscourts.nvb.348854/gov.uscourts.nvb.348854.38.0.pdf


Liberty Media Move for Order to Modify Stay
http://ia800807.us.archive.org/26/items/gov.uscourts.nvb.348854/gov.uscourts.nvb.348854.60.0.pdf

Doc. 60-2 to above Motion
http://ia600807.us.archive.org/26/items/gov.uscourts.nvb.348854/gov.uscourts.nvb.348854.60.2.pdf

Motion to Confirm Arbitration Award Exhibit - 60-6
http://ia600807.us.archive.org/26/items/gov.uscourts.nvb.348854/gov.uscourts.nvb.348854.60.6.pdf

Liberty Media Reply
http://ia800807.us.archive.org/26/items/gov.uscourts.nvb.348854/gov.uscourts.nvb.348854.80.0.pdf

COMPLAINT by Liberty Media and Others to Determine Non-Dischargeable Debt
http://ia800807.us.archive.org/26/items/gov.uscourts.nvb.348854/gov.uscourts.nvb.348854.83.0.pdf

Doc. 120 filed by Liberty Media, First Amended Complaint, Demand for Jury Trial
http://ia800807.us.archive.org/26/items/gov.uscourts.nvb.348854/gov.uscourts.nvb.348854.120.0.pdf

Marc Randazza Bankruptcy Case Docket
http://ia600807.us.archive.org/26/items/gov.uscourts.nvb.348854/gov.uscourts.nvb.348854.docket.html


Doc. 148 Settlement
http://ia800807.us.archive.org/26/items/gov.uscourts.nvb.348854/gov.uscourts.nvb.348854.148.0.pdf
http://ia800807.us.archive.org/26/items/gov.uscourts.nvb.348854/gov.uscourts.nvb.348854.157.0.pdf

EX PARTE APPLICATION FOR ORDER DIRECTING EXAMINATION
PURSUANT TO FED.R.BANKR.P.2004 OF MARC J. RANDAZZA
Doc. 187

"Creditors Excelsior Media Corp. (“Excelsior”) and Liberty Media Holdings, LLC
(“Liberty” and together with Excelsior, “Creditors”), by and through their counsel, James D.
Greene, Esq. of Greene Infuso, LLP pursuant to section 105 of the Bankruptcy Code and Rule
2004 of the Federal Rules of Bankruptcy Procedure and Rule 2004 of the Local Rules of
Bankruptcy Practice and Procedure, hereby apply to the Court for entry of order directing Debtor
Marc J. Randazza (“Debtor”) to appear for and submit to examination under oath before certified court reporter at the office of Greene Infuso, LLP, 3030 South Jones Blvd. Suite 101, Las Vegas, Nevada 89146 on a date and time to be determined, providing that notice of said examination is to be provided no less than 10 judicial days before such examination date. In support of this
application (“Application”), Creditors state as follows:

LEGAL ARGUMENT

An examination pursuant to Bankruptcy Rule 2004 can be ordered [o]n motion of any
party in interest.” In re Stasz, 387 B.R. 271, 273 n.3 (B.A.P. 9th Cir. 2008); see also In re Lifeco
Inv. Grp., Inc., 173 B.R. 478, 480 (Bankr. D. Del 1994), quoting Fed. R. Bankr. P. 2004(a).
Bankruptcy Rule 2004 further provides that the Court may order the examination and the
production of documentary evidence concerning any matter that relates “to the liabilities and
financial condition of the debtor, or to any matter which may affect the administration of the
debtor’s estate, or… any other matter relevant to the case or tot the formulation of a plan.” Fed.
R. Bankr. P. 2004(b); see also In re Dinubilo, 177 B.R. 932, 936 n.6 (E.D. Cal. 1993) (noting that
“[u]nder Rule 2004, a court may order the examination of any person on motion of any party in
interest.”). 

Generally, examinations under Bankruptcy Rule 2004 are for the “purpose of
discovering assets and unearthing frauds.” In re Rafsky, 300 B.R. 152, 153 n.2 (Bankr. D. Conn.
2003) (citation omitted); In re N. Plaza LLC, 395 B.R. 113, 122 n.9 (S.D. Cal. 2008).
The scope of a Bankruptcy Rule 2004 examination is “unfettered and broad,” as the plain
language of the rule indicates. See 9 Collier on Bankruptcy ¶ 2004.02[1] at 2004-6 (15th ed. Rev.
1997); In re Dinublilo, 177 B. R. at 939 quoting In re GHR Energy Corp., 33 B.R. 451, 453
(Bankr. D. Mass. 1983). 

The broad latitude of Bankruptcy Rule 2004 examination furthers the purpose of the rule, which is “to allow the court to gain a clear picture of the condition and the whereabouts of the bankrupt’s estate. In re Int’l Fibercom, Inc., 283 B.R. 290, 292 (Bankr. D. Ariz. 2002) (permitted Bankruptcy Rule 2004 examination aimed at “obtaining information that will … potentially uncover additional claims that may exist for the benefit of the estate”); see also In re W & S Investments, Inc., 985 F.2d 577 (9th Cir. 1993) (“Bankruptcy Rule 2004 is a broadly construed discovery device…”); In re French, 145 B. R 991, 992 (Bankr. D.S.D. 1992) (“Bankruptcy Rule 2004… does not offer the procedural safeguards available under Rule 26 of the Federal Rule Rules of Civil Procedure.”)."

"The information and documents which Creditors seek through this Application relate to
matters that are clearly with the permitted scope of Rule 2004, including: (i) property of the
Debtor’s bankruptcy estate; (ii) transactions and business dealings involving the Debtor and
family members and corporate entities; (iii) potential claims the Creditor may have against third
parties; and (iv) other matters affecting the administration of the Debtor’s estate."

Source and Full Document

Above Order Granted
http://ia800807.us.archive.org/26/items/gov.uscourts.nvb.348854/gov.uscourts.nvb.348854.188.0.pdf


Doc. 191 Liberty Media SUPPLEMENTAL BRIEF IN SUPPORT
OF MOTION FOR ORDER CONFIRMING INTERIMARBITRATION AWARD
http://ia600807.us.archive.org/26/items/gov.uscourts.nvb.348854/gov.uscourts.nvb.348854.191.0.pdf


CAN YOU SAY PATTERN AND HISTORY ???


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