Legal Opinion

In Re Triangle Transport, Inc.

United States Bankruptcy Court, D. New Jersey

Decided December 3, 2009No. 19-12123PublishedCited by 1 opinion

1Opinion of the Court

OPINION

MORRIS STERN, Bankruptcy Judge.

This matter 1 tests the applicability and application of the concept of “good faith purchase” in a Chapter 7 sale of assets. It reflects the efforts of the appointed trustee to perform his duties to monetize assets of a business which has been severely handicapped by internal warfare among shareholders, and with a co-venturer. Ultimately, this case underscores the need to make commercial good sense out of turmoil. This is so, even while litigation is unfolding alleging serious and not unfounded transgressions during sale negotiations by the insider who…

2Cases cited9 opinions

Katchen v. LandySupreme Court of the United States · 1966
In Re GucciCourt of Appeals for the Second Circuit · 1997
In re Abbotts Dairies of Pennsylvania, Inc.Court of Appeals for the Third Circuit · 1986
In Re Rock Industries MacHinery Corp., F/k/a Lippmann, Inc., Bankrupt. Appeal of Litton Systems, IncCourt of Appeals for the Seventh Circuit · 1978
In Re Kristine Ballantyne Ewell, Debtor. Kristine Ballantyne Ewell, Debtor-Appellant v. Steven D. Diebert, Trustee-AppelleeCourt of Appeals for the Ninth Circuit · 1992

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3Cited by1 opinion

CITY OF JERSEY CITY v. JERSEY CITY COMMUNITY HOUSING CORP.District Court, D. New Jersey · 2023