Legal Opinion
In Re First Capital Holdings Corp.
United States Bankruptcy Court, C.D. California
Decided September 18, 1992No. Bankruptcy LA 91-75518 SBPublishedCited by 8 opinions
1Opinion of the Court
SAMUEL L. BUFFORD, Bankruptcy Judge.
I. INTRODUCTION
The motion before the Court raises the issue of whether and under what circumstances a creditors’ committee may prosecute claims on behalf of a chapter 11 debt- or without first making a formal demand upon the debtor to prosecute the claims.
The Court holds that it has discretion to excuse the requirement of a demand upon a chapter 11 debtor as futile when the creditors’ committee’s complaint is brought against the debtor’s present officers, directors, insiders, and principal shareholders.
II. FACTS
Chapter 11 debtor First Capital Holdings Corp.…
2Cases cited11 opinions
- Kham & Nate's Shoes No. 2, Inc., Debtor-Appellee v. First Bank of WhitingCourt of Appeals for the First Circuit · 1990
- Louisiana World Exposition v. Federal Insurance CompanyCourt of Appeals for the Fifth Circuit · 1988
- In Re Stn EnterprisesCourt of Appeals for the Second Circuit · 1985
- Findley v. GarrettCalifornia Court of Appeal · 1952
- Official Creditors' Committee of the Wesco Products Co. Ex Rel. Wesco Products Co. v. Alloy Automotive Co. (In Re Wesco Products Co.)United States Bankruptcy Court, N.D. Illinois · 1982
6 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- In Re Sufolla, Inc.Court of Appeals for the Ninth Circuit · 1993
- Official Committee of Unsecured Creditors of National Forge Co. v. Clark (In Re National Forge Co.)District Court, W.D. Pennsylvania · 2005
- NBD Park Ridge Bank v. SRJ Enterprises, Inc. (In Re SRJ Enterprises, Inc.)United States Bankruptcy Court, N.D. Illinois · 1993
- Official Unsecured Creditors Committee of Sufolla, Inc. ex rel. Estate of Sufolla, Inc. v. U.S. National BankCourt of Appeals for the Ninth Circuit · 1993
- Catwil Corp. Ex Rel. Official Committee of Unsecured Creditors v. Derf II (In Re Catwil Corp.)United States Bankruptcy Court, E.D. California · 1994
3 more not listed; retrieve them via the Exa API.