Legal Opinion
In Re Newport Offshore Ltd.
United States Bankruptcy Court, D. Rhode Island
Decided February 9, 1998No. Bankruptcy 85-00723PublishedCited by 5 opinions
1Opinion of the Court
Memorandum of Decision
JAMES B. HAINES, Jr., Bankruptcy Judge.
Submitted on a stipulated record is the U.S. Trustee’s objection to the plan disbursing agent’s motion seeking authority to release unclaimed funds to co-receivers of the reorganized debtor. The objection raises questions concerning the permissibility of Rhode Island’s statutory scheme providing for receivership, involuntary liquidation, and dissolution of state-created corporations in light of the asserted preemptive effect of the Bankruptcy Code. 1
For the reasons set forth below, I conclude that the Rhode Island receivership laws…
2Cases cited40 opinions
- Rice v. Santa Fe Elevator Corp.Supreme Court of the United States · 1947
- Metropolitan Life Insurance v. MassachusettsSupreme Court of the United States · 1985
- English v. General Electric Co.Supreme Court of the United States · 1990
- Hillsborough County v. Automated Medical Laboratories, Inc.Supreme Court of the United States · 1985
- Maryland v. LouisianaSupreme Court of the United States · 1981
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3Cited by5 opinions
- Bruin Portfolio, LLC v. Leicht (In Re Leicht)Bankruptcy Appellate Panel of the First Circuit · 1998
- John T. Callahan & Sons, Inc. v. Dykeman Electric Co.District Court, D. Massachusetts · 2003
- In re Packard Square LLCUnited States Bankruptcy Court, E.D. Michigan · 2017
- Packard Square, LLC v. Can IV Packard Square LLC (In re Packard Square, LLC)District Court, E.D. Michigan · 2018
- In re Skymark Props. Ii, LLCUnited States Bankruptcy Court, E.D. Michigan · 2019