Legal Opinion
PW Enterprises, Inc. v. North Dakota Racing Commission
Court of Appeals for the Eighth Circuit
Decided August 29, 2008No. 07-1821PublishedCited by 62 opinions
1Opinion of the Court
BRIGHT, Circuit Judge.
The Bankruptcy Code expressly authorizes a trustee (or debtor-in-possession) to bring an adversary proceeding to avoid certain transfers as preferential or fraudulent. In some cases, however, courts have allowed creditors to bring such “avoidance claims” if it would benefit the estate. A creditor who brings avoidance claims in place of the trustee is said to possess “derivative standing.” In this case, we must decide whether the bankruptcy court erred in holding that, as a matter of law, a creditor may never obtain derivative standing to pursue avoidance claims absent a…
2Cases cited19 opinions
- Eisen v. Carlisle & JacquelinSupreme Court of the United States · 1974
- Hartford Underwriters Insurance v. Union Planters Bank, N. A.Supreme Court of the United States · 2000
- Louisiana World Exposition v. Federal Insurance CompanyCourt of Appeals for the Fifth Circuit · 1988
- In Re Stn EnterprisesCourt of Appeals for the Second Circuit · 1985
- Richard M. Fogel, as Trustee for the Estate of Madison Management Group, Inc. v. Samuel Zell, Appeal of City and County of DenverCourt of Appeals for the Seventh Circuit · 2000
14 more not listed; retrieve them via the Exa API.
3Cited by62 opinions
- Hyundai Translead, Inc. v. Jackson Truck & Trailer Repair, Inc. (In Re Trailer Source, Inc.)Court of Appeals for the Sixth Circuit · 2009
- Isaacs v. DBI-ASG Coinvestor Fund, III, LLC (In Re Isaacs)Court of Appeals for the Sixth Circuit · 2018
- Reed v. Cooper (In Re Cooper)United States Bankruptcy Court, N.D. Texas · 2009
- Official Committee of Unsecured Creditors of SGK Ventures, LLC v. NewKey Group, LLC (In re SGK Ventures, LLC)United States Bankruptcy Court, N.D. Illinois · 2014
- Claridge Assocs., LLC v. Schepis (In re Pursuit Capital Mgmt., LLC)United States Bankruptcy Court, D. Delaware · 2018
57 more not listed; retrieve them via the Exa API.