Advanced Ribbons & Office Products, Inc. v. U.S. Interstate Distributing, Inc. (In Re Advanced Ribbons & Office Products, Inc.)
United States Bankruptcy Appellate Panel for the Ninth Circuit
1Opinion of the Court
OPINION
Before PERRIS, VOLINN, and OLLASON, Bankruptcy Judges. PERRIS, Bankruptcy Judge:
After the debtor defaulted on certain obligations to the appellees and filed bankruptcy, the appellees caused a post-petition foreclosure sale of stock in the debtor held by the debtor’s sole shareholder, Anthony Teuber, which stock was pledged to secure the performance of the debtor’s obligation. The debtor moved to void the foreclosure sale as being in violation of the automatic stay and to recover damages arising from the sale. This appeal arises from the bankruptcy court’s order denying the debtor’s…
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