- 11 U.S.C.
Majestic Star Casino LLC v. Barden Dev. Inc. (In re Majestic Star Casino LLC)
Jan
24
2012
Ruling
Revocation by parent of debtor's qualified subchapter S status was an avoidable transfer.
Procedural posture
Debtors multi-jurisdictional casino operators brought an adversary complaint to avoid a postpetition transfer and disposition of alleged property of the estate under 11 U.S.C.S. §§ 549, 550, and for violation of the automatic stay under 11 U.S.C.S. § 362. The transfer was alleged to have occurred when defendant parent revoked debtors' qualified subchapter S subsidiary (QSub) status with defendant Internal Revenue Service (IRS).
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Court
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