Legal Opinion
In re USA Baby, Inc.
Court of Appeals for the Seventh Circuit
Decided May 25, 2011No. 10-3637PublishedCited by 3 opinions
1Opinion of the Court
ORDER
Creditors forced USA Baby, a closely held corporation, into bankruptcy, and a trustee was appointed. The trustee declined to pursue unliquidated, speculative claims, a decision that was opposed by no one except Scott Wallis, the company’s president and a 5% stockholder. Wallis, acting on his own and not as an officer of USA Baby, moved for permission to stand in for the trustee to pursue those claims. The bankruptcy court denied Wallis’s motion, and the district court upheld that decision. Wallis has now appealed to this court, and we affirm the decision of the bankruptcy court.
USA Baby…
2Cases cited16 opinions
- Central States, Southeast & Southwest Areas Pension Fund v. Central Transport, Inc.Supreme Court of the United States · 1985
- In Re Arochem CorporationCourt of Appeals for the Second Circuit · 1999
- 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
- In the Matter of Thomas J. Perkins, Jr., Debtor-Appellant, and Appeal of Teachers' Retirement System of the State of Illinois, InterveningCourt of Appeals for the Seventh Circuit · 1990
- In re Kmart Corp.Court of Appeals for the Seventh Circuit · 2004
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3Cited by3 opinions
- Wallis v. Fifth Third BankCourt of Appeals for the Seventh Circuit · 2011
- In re Caesars Entertainment Operating Co.United States Bankruptcy Court, N.D. Illinois · 2016
- In re USA Baby, Inc.Court of Appeals for the Seventh Circuit · 2013