Brandt v. B.A. Capital Co. (In re Plassein Intl Corp.)
Apr
20
2007
Ruling
Leveraged buyouts made through financial institution were unavoidable settlements.
Procedural posture
Plaintiff bankruptcy trustee brought an adversary proceeding against defendant former shareholders of private corporations acquired by bankruptcy debtors, seeking to avoid the sale of the shareholders'stock to the debtors under 11 U.S.C. § 544(b) as constructively fraudulent under Del. Code Ann. tit. 6, §§ 1304 and 1305. The shareholders moved to dismiss the complaint.
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Court
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