DH Northwest LLC v. Carey (In re National Jockey Club)
Mar
03
2011
Ruling
Arbitration award breaking tie vote of board of directors resolution was not a judgment that could serve as a basis for turnover of property.
Procedural posture
Plaintiff, in the name of a Chapter 11 debtor, filed a complaint against defendant, who was the president, manager, and a board member of a limited liability company (LLC) formed by the debtor, asserting a claim for turnover of estate property under 11 U.S.C.S. § 542(a) and a claim for breach of fiduciary duty under state law. Defendant filed a motion to dismiss pursuant to Fed. R. Civ. P. 12(b)(6), as incorporated by Fed. R. Bankr. P. 7012.
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Court
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