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In re Level III Trading Partners L.P.

In re Level III Trading Partners L.P.

Ruling
Limited partners' claims were regular equity claims absent evidence that the claims resulted from prepetition withdrawal from debtor limited partnership.
Issue(s)
Whether a litigation trustee had standing to object to claims, whether creditors withdrew from debtor limited partnership prior to the petition date and whether the creditors' claims were at parity with general unsecured creditors?

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Commercial opinion summary, case decided on February 03, 2015 , LexisNexis #0215-113