Evercore Capital Partners II, L.L.C. v. Nancy Sue Davis Trust (In Re Davis Offshore)
Court of Appeals for the Fifth Circuit
1Opinion of the Court
EDITH H. JONES, Circuit Judge:
Shortly after the renowned patriarch of a family-owned oil and gas drilling business passed away, the business began to suffer financial reverses, and the family began to squabble. A potential sale of the business was thwarted when one of the adult children filed suit against her mother and siblings. Amid legal trouble and a severe cash shortage, the company finally found refuge in a prepackaged Chapter 11 case in which the debtor entities’ assets were sold to an investor consortium includ ing Gregg Davis, one of the sons. 1 The greatly expedited Chapter 11 case…
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