Legal Opinion
In Re Bullion Reserve of North America, a California Corporation, Debtor. Curtis B. Danning, Chapter 7 Trustee v. Michael L. Miller
Court of Appeals for the Ninth Circuit
Decided January 4, 1991No. 89-55375PublishedCited by 141 opinions
1Opinion of the Court
TROTT, Circuit Judge:
This dispute arose from a transaction in which Alan Saxon, the president of Bullion Reserve of North America (“BRNA”), agreed to contribute $1.5 million to The Commercial Bank of California (“CBC”) in exchange for an ownership interest in CBC.
Arnold Kopelson and Michael Miller were members of CBC’s Board of Directors. CBC was desperately in need of capital, and Kopelson approached Saxon for a capital contribution. Saxon agreed. He caused BRNA to transfer $1.5 million to his personal account, and in turn made a non-recourse loan of $1.5 million to Miller and Kopelson. The…
2Cases cited15 opinions
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- In Re Chase & Sanborn Corporation, F/k/a General Coffee Corporation, Debtors. Paul C. Nordberg, as Creditor Trustee v. Societe GeneraleCourt of Appeals for the Eleventh Circuit · 1988
- David W. Jackson v. Southern California Gas Company Claudia Dodson Lois Durfee Mary Moore Jean Bish Betty Shattery Pat ShatteryCourt of Appeals for the Ninth Circuit · 1989
- Gropper v. Unitrac, S.A. (In Re Fabric Buys of Jericho, Inc.)United States Bankruptcy Court, S.D. New York · 1983
- Merril v. Dietz (In Re Universal Clearing House Co.)District Court, D. Utah · 1986
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3Cited by141 opinions
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- Acequia, Inc. v. Clinton (In re Acequia, Inc.)Court of Appeals for the Ninth Circuit · 1994
- Bailey v. Big Sky Motors, Ltd.Court of Appeals for the Tenth Circuit · 2002
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