- 11 U.S.C.
In re Stillwater Asset Backed Offshore Fund Ltd.
Jan
17
2013
Ruling
Dismissal of involuntary petition denied where ineffective distribution in kind did not satisfy debts of petitioning creditors or create a bona fide dispute.
Procedural posture
Petitioning creditors filed an involuntary chapter 11 case against the alleged debtor. The alleged debtor contested the involuntary petition, seeking an order, pursuant to 11 U.S.C.S. §§ 105(a), 303, and 305, (i) dismissing the petition, (ii) imposing sanctions against the petitioning creditors, and (iii) scheduling a damages hearing and directing the petitioning creditors to post a bond pending such hearing.
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Court
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