In Re Shoreline Concrete Company, Inc., Debtor. Shoreline Concrete Company, Inc. v. United States of America, and Harold Heath, Trustee
Court of Appeals for the Ninth Circuit
1Opinion of the Court
KOZINSKI, Circuit Judge:
On June 18, 1979, Shoreline Concrete Company (Shoreline) filed for bankruptcy under chapter XI of the Bankruptcy Act of 1898, ch. 541, 30 Stat. 544 (1898 Act). Approximately 70 percent of the corporation’s assets were liquidated under chapter XI. Shoreline was unable to put forward an acceptable arrangement for reorganization, however, so in December 1981, the proceeding was converted into one for liquidation under chapter VII of the 1898 Act. A trustee was appointed to operate the business, which he managed to do at a slight profit. By 1985, the last of Shoreline’s…
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