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Legal Opinion

Allison v. Centris Fed. Credit Union (In Re Tri-State Fin., LLC)

Court of Appeals for the Eighth Circuit

Decided March 16, 2018No. 16-3923PublishedCited by 22 opinions

1Opinion of the Court

KELLY, Circuit Judge.

*531 A group of investors appeals after the district court 1 affirmed the bankruptcy court's 2 finding that funds the investors transferred to Tri-State Financial, LLC (TSF) are part of TSF's Chapter 7 bankruptcy estate. We affirm.

I. Background

After Tri-State Ethanol (TSE) filed for Chapter 11 bankruptcy protection, a group of investors (Omaha Group) formed TSF, a shell corporation designed solely to finance TSE's continued operations until a Chapter 11 plan could be approved. Omaha Group transferred $2 million to TSF; TSF then transferred nearly $800,000 of those funds to…

2Cases cited15 opinions

  1. Arizona v. CaliforniaSupreme Court of the United States · 1983
  2. In Re: Bishweshwar Rai MAHENDRA, Debtor, Eric J. SNYDER, Creditor—Appellant, v. A. Thomas DEWOSKIN, Trustee—AppelleeCourt of Appeals for the Eighth Circuit · 1997
  3. In Re: Daryl Lee Vote, Debtor. Wayne Drewes, as Bankruptcy Trustee v. Daryl Lee VoteCourt of Appeals for the Eighth Circuit · 2002
  4. Exxon Corporation v. The United StatesCourt of Appeals for the Federal Circuit · 1991
  5. Gourley v. Usery (In Re Usery)United States Bankruptcy Appellate Panel for the Eighth Circuit · 1999

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3Cited by22 opinions

  1. Berry v. Hennepin CountyDistrict Court, D. Minnesota · 2024
  2. Crittington v. McFaddenDistrict Court, W.D. North Carolina · 2021
  3. Futrell v. CooperDistrict Court, W.D. North Carolina · 2021
  4. Grady v. RogersDistrict Court, W.D. North Carolina · 2022
  5. Harrison v. General Motors CompanyDistrict Court, W.D. Missouri · 2018

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