Legal Opinion
Munford v. Valuation Research Corp. (In Re Munford, Inc.)
Court of Appeals for the Eleventh Circuit
Decided October 28, 1996No. 94-9046PublishedCited by 24 opinions
1Per curiam
As a matter of first impression in this circuit, we hold that 11 U.S.C. § 546(e) does not bar the trustee in bankruptcy from avoiding payments the debtor corporation made to its shareholders in a leveraged buy-out.
FACTS
In August 1987, Dillard Munford, the founder and chief executive officer of Mun-ford, Inc., suggested to Munford, Inc.’s board of directors (the board) that it sell Munford, Inc. At that time, Munford, Inc., a public company, operated three specialty retañer stores: Majik Market, a chain of convenience stores; World Bazaar, a chain of stores specializing in imported goods; and…
2Cases cited11 opinions
- In Re Chase & Sanborn Corporation, F/k/a General Coffee Corporation, Debtors. Paul C. Nordberg, as Creditor Trustee v. Societe GeneraleCourt of Appeals for the Eleventh Circuit · 1988
- Cottle v. Storer Communication, Inc.Court of Appeals for the Eleventh Circuit · 1988
- Imperial Enterprises, Inc., D/B/A Imperial Carpet Mills, Inc., Plaintiff-Appellant-Cross v. Fireman's Fund Insurance Company, Defendant-Appellee-CrossCourt of Appeals for the Fifth Circuit · 1976
- Kaiser Steel Corp. v. Charles Schwab & Co.Court of Appeals for the Tenth Circuit · 1990
- Wieboldt Stores, Inc. Ex Rel. Raleigh v. SchottensteinDistrict Court, N.D. Illinois · 1991
6 more not listed; retrieve them via the Exa API.
3Cited by24 opinions
- Official Committee of Unsecured Creditors of PSA, Inc. v. EdwardsCourt of Appeals for the Eleventh Circuit · 2006
- Contemporary Industries Corp. v. FrostCourt of Appeals for the Eighth Circuit · 2009
- Chepstow Limited v. Marshall B. HuntCourt of Appeals for the Eleventh Circuit · 2004
- In Re: Resorts International, Inc.Court of Appeals for the Third Circuit · 1999
- Insight Technology, Inc. v. FREIGHTCHECK, LLCCourt of Appeals of Georgia · 2006
19 more not listed; retrieve them via the Exa API.