- 11 U.S.C.
Contemporary Indus. Corp. v. Frost
Apr
29
2009
Ruling
Payments to debtor's shareholders in exchange for stock properly held exempt from avoidance as settlement payments.
Procedural posture
Appellants, a corporation and a committee of its unsecured creditors, appealed from a grant of summary judgment in favor of the former shareholders of the corporation. The bankruptcy court concluded, and the U.S. District Court for the District of Nebraska agreed, that the payments were exempt from avoidance as settlement payments within the meaning of a former version of 11 U.S.C.S. § 546(e). The case also implicated 11 U.S.C.S. § 741.
ABI Membership is required to access the full summary of Contemporary Indus. Corp. v. Frost Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
:
Judge or Jurisdiction information not available