White Oak Corp. v. American Intl Group Inc. (In re National Eastern Corp.)

Ruling: 
Proceeding against debtor contractor's sureties and attorneys for acting in self-interest under indemnity agreement remanded to state court.
Procedural posture: 
One plaintiff and one defendant (objecting parties) filed motions to abstain and to remand to state court the captioned adversary proceeding, which had been removed to the bankruptcy court pursuant to 28 U.S.C.S. § 1452(a). The basis of the complaint was that defendants, sureties and attorneys, rather than acting on the behalf of the plaintiffs, the debtor and its affiliates under an indemnity agreement, acted in their own self-interest.
Issue: 
ABI Membership is required to access the full summary of White Oak Corp. v. American Intl Group Inc. (In re National Eastern Corp.). Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Commercial case opionion summary, case decided on July 25,2008, LexisNexis #0808-088