Legal Opinion
Kaler Ex Rel. Racing Services, Inc. v. Bala (In Re Racing Services, Inc.)
United States Bankruptcy Appellate Panel for the Eighth Circuit
Decided April 25, 2008No. 07-6058, 07-6059PublishedCited by 2 opinions
1Opinion of the Court
McDONALD, Bankruptcy Judge.
Kip Kaler, Chapter 7 Trustee for the estate of Racing Services, Inc. (“Trustee”), and the State of North Dakota et al. (“North Dakota”) appeal from an order of the bankruptcy court 1 that granted a motion to vacate part of an order that equitably subordinated the claims of Susan Bala (“Bala”). We have jurisdiction over this appeal pursuant to 28 U.S.C. § 158(b). For the reasons set forth below, we affirm.
I
Bala was the founder, chief executive officer, president and sole shareholder of Racing Services, Inc. (“RSI”). RSI filed a Chapter 11 bankruptcy petition on…
2Cases cited7 opinions
- Agostini v. FeltonSupreme Court of the United States · 1997
- 20 Collier bankr.cas.2d 19, Bankr. L. Rep. P 72,385, 7 Ucc rep.serv.2d 656 in Re Bellanca Aircraft Corporation, Debtor (Three Cases). Edward W. Bergquist, Trustee of the Bankruptcy Estate of Bellanca Aircraft Corporation v. Anderson-Greenwood Aviation Corp., a Texas Corporation Anderson Greenwood & Co., a Texas Corporation, (Two Cases). Edward W. Bergquist, Trustee of the Bankruptcy Estate of Bellanca Aircraft Corporation v. Anderson-Greenwood Aviation Corp., a Texas Corporation Anderson Greenwood & Co., a Texas CorporationCourt of Appeals for the Eighth Circuit · 1988
- Kieffer v. Riske (In Re Kieffer-Mickes, Inc.)United States Bankruptcy Appellate Panel for the Eighth Circuit · 1998
- Beguelin v. Volcano Vision, Inc. (In Re Beguelin)United States Bankruptcy Appellate Panel for the Ninth Circuit · 1998
- Nelson v. Siouxland Federal Credit Union (In Re Nelson)United States Bankruptcy Appellate Panel for the Eighth Circuit · 1998
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3Cited by2 opinions
- In Re Racing Services, Inc.Court of Appeals for the Eighth Circuit · 2009
- Kip Kaler v. Susan BalaCourt of Appeals for the Eighth Circuit · 2009