- 11 U.S.C.
ASARCO Inc. v. Elliott Mgmt. (In re ASARCO LLC)
Aug
16
2011
Ruling
Business judgment standard properly applied to order for reimbursement of qualified bidders issued before due diligence and work fees were incurred.
Procedural posture
The bankruptcy court issued an order that authorized debtor to reimburse qualified bidders for expenses incurred in connection with the sale of a substantial asset of the debtor's estate. Debtor's parent companies appealed the order. The United States District Court for the Southern District of Texas affirmed, and confirmed the parent's bankruptcy reorganization plan. Appellants, debtor and the parent companies, appealed the reimbursement order.
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Court
:
Judge or Jurisdiction information not available