Peter Ullrich v. Kenneth A. Welt
Court of Appeals for the Eleventh Circuit
1Opinion of the Court
MARTIN, Circuit Judge:
This case originated in the U.S. Bankruptcy Court. Peter Ullrich was a substantial investor in a farm that raised tila-pia in Nicaragua. The fish farm failed, and we consider claims arising out of a fight for the limited assets that remain from that enterprise.
I. BACKGROUND
A. THE FAILED ABC
Nica Holdings, Inc. (“Nica”) is now the debtor in the underlying bankruptcy, but it once had valuable assets. Nica held stock in Mares Nica Noruegos S.A. (“Nicanor”), the company that ran the Nicaraguan fish farm, and it owned several parcels of land associated with that operation. Mr.…
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