Holta v. Zerbetz (In Re Anchorage Nautical Tours, Inc.)
United States Bankruptcy Appellate Panel for the Ninth Circuit
1Opinion of the Court
OPINION
VOLINN, Bankruptcy Judge:
OVERVIEW
The bankruptcy court granted the motion of the Chapter 11 debtor in possession to (a) execute an agreement to purchase a vessel and (b) continue to pay a $2,500 monthly salary to Holta, the debtor’s president and majority shareholder. A potentially profitable business opportunity for the use of the vessel arose when, after the Exxon Valdez oil spill, vessels were being sought to be used in the cleanup. Holta alleged that he could not raise the funds to certify the vessel for use in the cleanup while the debtor was in bankruptcy. Thereafter, without…
2Cases cited14 opinions
- Anderson v. City of Bessemer CitySupreme Court of the United States · 1985
- In Re American Mariner Industries, Inc., Debtor. Crocker National Bank v. American Mariner Industries, Inc., Debtor-AppelleeCourt of Appeals for the Ninth Circuit · 1984
- In the Matter of Harry Fondiller, Debtor. Rosalyn Fondiller v. Jerome E. RobertsonCourt of Appeals for the Ninth Circuit · 1983
- Joseph B. KAUFFMAN Et Al. v. the DREYFUS FUND, INC., Et Al., Investors Diversified Services, Inc., Et Al., AppellantsCourt of Appeals for the Third Circuit · 1970
- Ford Motor Credit Company v. Robert L. Weaver, John C. Weaver and Sons and Weaver Farms, DefendantsCourt of Appeals for the Sixth Circuit · 1982
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3Cited by20 opinions
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- Braunstein v. McCabeCourt of Appeals for the First Circuit · 2009
- Advantage Healthplan, Inc. v. PotterDistrict Court, District of Columbia · 2008
- In Re HamlettUnited States Bankruptcy Court, M.D. North Carolina · 2003
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