Official Committee of Unsecured Creditors of Cash Cloud, INC. v. Christopher Mcalary

CourtDistrict Court, D. Nevada
DecidedApril 30, 2025
Docket2:23-cv-01738
StatusUnknown

This text of Official Committee of Unsecured Creditors of Cash Cloud, INC. v. Christopher Mcalary (Official Committee of Unsecured Creditors of Cash Cloud, INC. v. Christopher Mcalary) is published on Counsel Stack Legal Research, covering District Court, D. Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Official Committee of Unsecured Creditors of Cash Cloud, INC. v. Christopher Mcalary, (D. Nev. 2025).

Opinion

1 UNITED STATES DISTRICT COURT 2 DISTRICT OF NEVADA 3 In re: Case No.: 2:23-cv-01738-APG-BNW

4 CASH CLOUD, INC., d/b/a COIN CLOUD, Bankruptcy Case No. 23-10423-MKN

5 Debtor. Chapter 11

6 OFFICIAL COMMITTEE OF UNSECURED Adversary No.: 23-01125 CREDITORS OF CASH CLOUD, INC., 7 d/b/a COIN CLOUD Order (1) Granting Defendant’s Motion to File Excess Pages, (2) Denying Defendant’s 8 Plaintiff Motion for Sanctions, (3) Denying Defendant’s Motion to Strike Plaintiff’s 9 v. Motion for Sanctions, and (4) Denying Plaintiff’s Motion for Sanctions 10 CHRISTOPHER MCALARY, [ECF Nos. 19, 30, 44, 47] 11 Defendant and Third-Party Plaintiff

12 v.

13 AMONDO REDMOND,

14 Third-Party Defendant

16 The Official Committee of Unsecured Creditors of Cash Cloud (UCC) brings this 17 derivative adversary suit on behalf of debtor Cash Cloud, Inc. (d/b/a Coin Cloud) against 18 Christopher McAlary, its former owner, officer, and director. In Count I of its adversary 19 complaint, the UCC alleges that McAlary breached his fiduciary duties to Cash Cloud due to 20 various transactions and decisions that he made both before and after Cash Cloud filed for 21 bankruptcy. 22 23 1 McAlary moves for sanctions against the UCC under Federal Rule of Bankruptcy 2 Procedure 9011.1 ECF No. 19. He argues that the UCC’s pursuit of Count I is frivolous and for 3 an improper purpose. In response, the UCC moves for sanctions against McAlary, arguing that 4 his motion for sanctions is frivolous and for an improper purpose. ECF No. 30. McAlary moves

5 to strike the UCC’s motion for sanctions. ECF No. 44. For the reasons below, I deny all of these 6 motions. But I deny McAlary’s motion for sanctions without prejudice. 7 I. MCALARY’S MOTION FOR SANCTIONS

8 Count I of the UCC’s complaint alleges that McAlary breached his “fiduciary duties of 9 care, loyalty, and good faith” to Cash Cloud pre-bankruptcy by, among other things, engaging in 10 self-dealing transactions, approving frivolous expenditures, causing Cash Cloud to purchase 11 unnecessary electronic cash machines, approving a “premature” software roll-out, and 12 implementing “inadequate policies and procedures concerning cash management and handling” 13 that led to theft of Cash Cloud funds. See Official Committee of Unsecured Creditors of Cash 14 Cloud, Inc. v. Christopher McAlary, No. 23-01125-mkn (Bankr. D. Nev. Sept. 1, 2023), ECF No. 15 1 at 18-19. Count I also alleges that post-bankruptcy, McAlary breached his fiduciary duties as 16 an officer or director of the debtor-in-possession by, among other things, directing Cash Cloud to 17 send company property to its subsidiary in Brazil and to direct the subsidiary to withhold 18 receivables owed to Cash Cloud. Id. at 19. 19 McAlary argues that the UCC violated Rule 9011(b) by filing and continuing to pursue 20 Count I. The UCC responds that McAlary’s motion is procedurally barred, that McAlary waived 21 the arguments presented in his motion, and that the motion fails on the merits. 22

1 McAlary moves to exceed the page limit for his reply brief in support of his motion. ECF No. 23 47. The motion is unopposed. I find good cause to exceed the page limit given the issues presented, so I grant the motion. See Local Rule 7-3(c). 1 A. Legal Standard

2 As with Federal Rule of Civil Procedure 11, Federal Rule of Bankruptcy Procedure 9011 3 enables courts to sanction court filings that are legally or factually frivolous or made for an 4 improper purpose. Bus. Guides, Inc. v. Chromatic Commc’ns Enters., Inc., 892 F.2d 802, 808 5 (9th Cir. 1989), aff’d, 498 U.S. 533 (1991); see also In re Grantham Bros., 922 F.2d 1438, 1441 6 (9th Cir. 1991) (noting that Rule 9011 and Rule 11 are “virtually identical” and that courts 7 considering sanctions under Rule 9011 should “rely on Rule 11 cases”). Under Rule 9011, an 8 attorney may present a document to the court, “whether by signing, filing, submitting, or later 9 advocating it,” only after certifying that, to the best of their knowledge and after a reasonable 10 inquiry: 11 (1) it is not presented for any improper purpose, such as to harass, cause unnecessary delay, or needlessly increase litigation costs; 12 (2) the claims, defenses, and other legal contentions are warranted by existing 13 law or by a nonfrivolous argument to extend, modify, or reverse existing law, or to establish new law; 14 (3) the allegations and factual contentions have evidentiary support—or if 15 specifically so identified, are likely to have evidentiary support after a reasonable opportunity for further investigation or discovery; and 16 (4) the denials of factual contentions are warranted on the evidence—or if 17 specifically so identified, are reasonably based on a lack of information or belief. 18

19 Fed. R. Bankr. P. 9011(b). If I find that a filing was frivolous or for an improper purpose, I have 20 the discretion to award sanctions. In re Grantham Bros., 922 F.2d at 1441. In determining 21 whether to impose Rule 9011 sanctions, I “resolve all doubts in favor of the signer of the filing.” 22 Shams v. CVS Health Corp., No. CV 18-8158-DMG (SKx), 2019 WL 1959576, at *7 (C.D. Cal. 23 May 2, 2019) (simplified). 1 B. Safe Harbor Procedural Bar 2 The UCC argues that McAlary’s motion is procedurally barred under Rule 9011(c) 3 because McAlary did not serve an identical version of his sanctions motion on the UCC prior to 4 filing the motion with the court. McAlary responds that the served motion and the filed motion

5 need not be identical under Rule 9011(c). 6 A court can sanction a party or its counsel under Rule 9011 after giving “notice and a 7 reasonable opportunity to respond.” Fed. R. Bankr. P. 9011(c)(1). Rule 9011’s safe harbor 8 provision requires a party who seeks sanctions to first serve a motion on the allegedly offending 9 party, who may then decide to withdraw the challenged filing. Thus, a “motion for sanctions 10 must be made separately from any other motion or request, describe the specific conduct alleged 11 to violate [Rule 9011(b)], and be served under Rule 7004.” Fed. R. Bankr. P. 9011(c)(2)(A).2 12 The motion for sanctions “must not be filed or presented to the court if the challenged document 13 . . . is withdrawn or appropriately corrected within 21 days after the motion was served.” Fed. R. 14 Bankr. P. 9011(c)(2)(B).

15 The Ninth Circuit has not indicated whether a Rule 9011 motion served under the safe 16 harbor must be identical to the motion subsequently filed with the court. Nor has it addressed the 17 analogous issue under Federal Rule of Civil Procedure 11. Some courts require that the filed 18 motion be identical to the served motion. See Uptown Grill, L.L.C. v. Camellia Grill Holdings, 19 Inc., 46 F.4th 374, 389 (5th Cir.

Free access — add to your briefcase to read the full text and ask questions with AI

Related

Jones v. International Riding Helmets, Ltd.
49 F.3d 692 (Eleventh Circuit, 1995)
Chambers v. Nasco, Inc.
501 U.S. 32 (Supreme Court, 1991)
Eon-Net Lp v. Flagstar Bancorp
249 F. App'x 189 (Federal Circuit, 2007)
Eon-Net LP v. Flagstar Bancorp
653 F.3d 1314 (Federal Circuit, 2011)
Groves v. Prickett
420 F.2d 1119 (Ninth Circuit, 1970)
Jurldine A. Donaldson v. Paul v. Clark
819 F.2d 1551 (Eleventh Circuit, 1987)
William B. Kaplan v. Merrill Zenner
956 F.2d 149 (Seventh Circuit, 1992)
Barber v. Miller
146 F.3d 707 (Ninth Circuit, 1998)
Mark A. Nisenbaum, Cross-Appellee v. Milwaukee County
333 F.3d 804 (Seventh Circuit, 2003)
Holgate v. Baldwin
425 F.3d 671 (Ninth Circuit, 2005)
Patelco Credit Union v. Sahni
262 F.3d 897 (Ninth Circuit, 2001)
Uptown Grill v. Camellia Grill Holdings
46 F.4th 374 (Fifth Circuit, 2022)
Board of Trustees v. Quinones (In re Quinones)
543 B.R. 638 (N.D. California, 2015)

Cite This Page — Counsel Stack

Bluebook (online)
Official Committee of Unsecured Creditors of Cash Cloud, INC. v. Christopher Mcalary, Counsel Stack Legal Research, https://law.counselstack.com/opinion/official-committee-of-unsecured-creditors-of-cash-cloud-inc-v-nvd-2025.