Simon v. ASIMCO Techs. Inc. (In re American Camshaft Specialties Inc.)

Ruling: 
Substantive consolidation of debtors and related corporation denied where separation of the respective assets and liabilities was not impossible.
Procedural posture: 
Plaintiff bankruptcy trustee brought an adversary proceeding against defendants, bankruptcy debtors, related corporations, and directors of the debtors, alleging inter alia that the directors breached fiduciary duties and that substantive consolidation of the debtors and the corporations was warranted. The directors moved to dismiss the breach of fiduciary duty claim, and the debtors and the corporations moved to dismiss the consolidation claim.
Issue: 
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Commercial case opionion summary, case decided on September 01,2009, LexisNexis #0909-137