Legal Opinion
Gasmark Ltd. Liquidating Trust v. Louis Dreyfus Natural Gas Corp. (In Re Gasmark Ltd.)
Court of Appeals for the Fifth Circuit
Decided October 30, 1998No. 97-20699PublishedCited by 27 opinions
1Opinion of the Court
DUHÉ, Circuit Judge:
This case involves questions of proof of insolvency and the affirmative defense of payment in the ordinary course of business in the context of a bankruptcy trustee’s effort to avoid payments made by the debtor shortly before filing for bankruptcy. The district court found that insolvency was established and that the ordinary course of business defense prevailed. We affirm in part and reverse and remand in part.
I
FACTUAL BACKGROUND
GasMark, Ltd. purchased natural gas and resold it to consumers. Louis Dreyfus Natural Gas Corporation (“LDNG”) and DeKalb Energy Company…
2Cases cited14 opinions
- Anderson v. Liberty Lobby, Inc.Supreme Court of the United States · 1986
- Celotex Corp. v. Catrett, Administratrix of the Estate of CatrettSupreme Court of the United States · 1986
- In Re Roblin Industries, Inc., Debtor. William E. Lawson, Trustee, in Bankruptcy of Roblin Industries, Inc. v. Ford Motor CompanyCourt of Appeals for the Second Circuit · 1996
- Palmer Clay Products Co. v. BrownSupreme Court of the United States · 1936
- In Re Fulghum Construction Corp., Debtor. Robert H. Waldschmidt, Trustee v. Harry H. Ranier, Algin Nolan, and Ranier & AssociatesCourt of Appeals for the Sixth Circuit · 1989
9 more not listed; retrieve them via the Exa API.
3Cited by27 opinions
- Gulf City Seafoods, Inc. v. Ludwig Shrimp Co. (In Re Gulf City Seafoods, Inc.)Court of Appeals for the Fifth Circuit · 2002
- Baker Hughes Oilfield Operations, Inc. v. Cage (In Re Ramba, Inc.)Court of Appeals for the Fifth Circuit · 2005
- Faulkner v. Kornman (In Re Heritage Organization, L.L.C.)United States Bankruptcy Court, N.D. Texas · 2009
- In Re WRT Energy Corp.United States Bankruptcy Court, W.D. Louisiana · 2001
- Rand Energy Co. v. Strata Directional Technology, Inc. (In Re Rand Energy Co.)United States Bankruptcy Court, N.D. Texas · 2001
22 more not listed; retrieve them via the Exa API.