Legal Opinion

In Re BBS Norwalk One, Inc.

United States Bankruptcy Court, D. Connecticut

Decided February 1, 1999No. 19-20246PublishedCited by 2 opinions

1Opinion of the Court

MEMORANDUM AND ORDER

ALAN H.W. SHIFF, Chief Judge.

The debtor and Virginio Battanta have filed competing plans of reorganization. The narrow issue addressed here is whether a minority shareholder of a debtor in possession has the authority under applicable state and bankruptcy law to file a plan of reorganization that proposes to mortgage the debtor’s property to fund the plan.

BACKGROUND

The debtor is incorporated in Delaware. Its shareholders are John Steele and B & B Properties, Inc., who hold a 10% and 90% interest respectively. The ownership of B & B Properties is currently being litigated…

2Cases cited7 opinions

Metropolitan Transportation Authority v. Bruken Realty Corp.New York Court of Appeals · 1986
Stolrow v. Stolrow's, Inc. (In Re Stolrow's, Inc.)United States Bankruptcy Appellate Panel for the Ninth Circuit · 1988
LIN Broadcasting Corp. v. Metromedia, Inc.New York Court of Appeals · 1989
In re Pace Photographers, Ltd.New York Court of Appeals · 1988
In Re River Bend-Oxford AssociatesUnited States Bankruptcy Court, D. Maryland · 1990

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3Cited by2 opinions

Johnsen v. ACP Distribution, Inc.Appellate Division of the Supreme Court of the State of New York · 2006
In re SchwimmerAppellate Division of the Supreme Court of the State of New York · 2008