- 11 U.S.C.
May v. Lobo Land LLC (In re Lobo Land LLC)
Dec
21
2007
Ruling
Court had subject matter jurisdiction over adversary proceeding brought by creditor against debtor LLC and managing member for unauthorized transfer of released escrow funds.
Procedural posture
Plaintiff creditor filed an adversary proceeding against defendants, a debtor limited liability company and its managing member, alleging conversion by the member or aiding and abetting conversion by the debtor along with a breach of fiduciary duty. Sua sponte, the court questioned its jurisdiction because the chapter 11 case had been confirmed and the member was not a debtor.
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Court
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