Living Benefits Asset Mgmt., L.L.C. v. Kestrel Aircraft Co. (In Re Living Benefits Asset Mgmt., L.L.C.)

KING, Circuit Judge:

Debtor-plaintiff Living Benefits Asset Management, L.L.C., brought this adversary proceeding against Kestrel Aircraft Co. for breach of contract. Living Benefits alleges that Kestrel failed to pay almost $ 900,000 owed for services that Living Benefits provided Kestrel to help it collateralize a corporate debt offering with life settlements. Following a bench trial, the bankruptcy court held that the contract was voidable because Living Benefits failed to register as an investment adviser in violation of the Investment Advisers Act of 1940. The district court affirmed the…