Judge Alvarez

MC Asset Recovery LLC v. Commerzbank (In re Mirant Corp.)

Plaintiff, as debtor-in-possession, sued defendants to avoid a guaranty and to recover the funds debtor paid pursuant to the guaranty. The District Court for the Northern District of Texas denied defendants' motion to dismiss based on plaintiff's alleged lack of standing, and subsequently granted summary judgment for defendants. Both sides appealed.
Ruling: 
Debtor in possession had standing to avoid guaranty and funds paid thereunder as a fraudulent transfer.
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Commercial case opionion summary, case decided on March 20,2012, LexisNexis #0412-070
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