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Legal Opinion

Swartz v. Billingsley, Excel Energy Co. (In Re Billingsley)

United States Bankruptcy Court, C.D. Illinois

Decided March 6, 2006No. 19-70278PublishedCited by 6 opinions

1Opinion of the Court

OPINION

MARY P. GORMAN, Bankruptcy Judge.

The issue before the Court is whether the Bankruptcy Court has the authority to order a corporation in which the Debtor owns stock to turn over to the Debtor’s bankruptcy trustee all or a portion of the corporate assets.

The Debtor, Gary Billingsley, owns 500 shares of Excel Energy Co. (“Excel”) stock. The Debtor’s ex-wife, Patricia Mo-nyok, owns the other 500 outstanding shares of Excel. Excel does not carry on any business and has not filed an income tax return for the last six years. The Debtor has been the sole officer of Excel since December 1, 2001.

2Cases cited10 opinions

  1. Butner v. United StatesSupreme Court of the United States · 1979
  2. In Re Rehabilitation of Centaur Ins. Co.Illinois Supreme Court · 1994
  3. Bobby H. Fowler, Debtor-Appellant v. Scott F. ShadelCourt of Appeals for the Seventh Circuit · 2005
  4. In Re LipumaUnited States Bankruptcy Court, N.D. Illinois · 1994
  5. Normandin v. Normandin (In Re Normandin)United States Bankruptcy Court, D. Massachusetts · 1989

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3Cited by6 opinions

  1. In re ColeUnited States Bankruptcy Court, E.D. Virginia · 2016
  2. In Re YoungUnited States Bankruptcy Court, D. Idaho · 2009
  3. In Re OsterwalderUnited States Bankruptcy Court, N.D. Ohio · 2008
  4. Kashkashian v. Lerner (In re Kashkashian)United States Bankruptcy Court, E.D. Pennsylvania · 2016
  5. In Re: Oliver C & I Corp.District Court, D. Puerto Rico · 2020

1 more not listed; retrieve them via the Exa API.

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