Badami v. Sears (In Re AFY, Inc.)
United States Bankruptcy Appellate Panel for the Eighth Circuit
1Opinion of the Court
KRESSEL, Chief Judge.
Robert A. Sears appeals from the September 6, 2611 bankruptcy court order finding that the bankruptcy estate of AFY, Inc., a/k/a Ainsworth Feed Yards Compa ny, Inc., is contractually and equitably entitled to receive the cash value of a life insurance policy, owned by Sears and paid for by AFY, to reimburse AFY for policy premiums paid. On appeal Sears argues that the bankruptcy court lacked jurisdiction, that his agreement with AFY was an executory contract, which was rejected, resulting in an abandonment of the policy which reverted to Sears’s estate, and that the…
2Cases cited10 opinions
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- American Federation of Labor v. WatsonSupreme Court of the United States · 1946
- Bankr. L. Rep. P 67,051 Lawrence Jenson v. Continental Financial CorporationCourt of Appeals for the Eighth Circuit · 1979
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