Legal Opinion
Bay Plastics, Inc. v. BT Commercial Corp. (In Re Bay Plastics, Inc.)
United States Bankruptcy Court, C.D. California
Decided September 5, 1995No. Bankruptcy No. LA 90-01884 SB. Adv. No. LA 92-01359-SBPublishedCited by 23 opinions
1Opinion of the Court
AMENDED MEMORANDUM OF DECISION ON SUMMARY JUDGMENT MOTION
SAMUEL L. BUFFORD, Bankruptcy Judge.
I. INTRODUCTION
The debtor has brought this adversary proceeding against the selling shareholders of a leveraged buyout (“LBO”) to recover the funds that they received in the buyout transaction. While the action was also brought against the bank that financed the transaction, the bank has settled. The Court grants summary judgment to the debtor on the undisputed facts.
The Court holds that the transaction may be avoided as a constructive fraudulent transfer under the California version of the Uniform…
2Cases cited32 opinions
- United States v. Tabor Court Realty Corp.Court of Appeals for the Third Circuit · 1986
- In Re Bullion Reserve of North America, a California Corporation, Debtor. Curtis B. Danning, Chapter 7 Trustee v. Michael L. MillerCourt of Appeals for the Ninth Circuit · 1991
- Grace Bros. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1949
- In Re Chase & Sanborn CorporationCourt of Appeals for the Eleventh Circuit · 1987
- Wieboldt Stores, Inc. v. SchottensteinDistrict Court, N.D. Illinois · 1988
27 more not listed; retrieve them via the Exa API.
3Cited by23 opinions
- In Re CohenUnited States Bankruptcy Appellate Panel for the Ninth Circuit · 1996
- Zahn v. Yucaipa Capital FundDistrict Court, D. Rhode Island · 1998
- Leonard v. Norman Vinitsky Residuary Trust (In Re Jolly's, Inc.)United States Bankruptcy Court, D. Minnesota · 1995
- BAA, PLC v. Acacia Mutual Life Ins. Co.Court of Appeals of Maryland · 2007
- In Re Key3Media Group, Inc.United States Bankruptcy Court, D. Delaware · 2005
18 more not listed; retrieve them via the Exa API.