Whitfield v. CDX Gas LLC (In re CDX Gas LLC)
Nov
10
2009
Ruling
Creditors with proofs of claim to which debtor did not object had standing to seek exclusion of escrowed funds from estate.
Procedural posture
Plaintiffs filed an adversary proceeding against defendants, debtors and a company, seeking a determination of whether property was excluded from the estate under 11 U.S.C.S. § 541(b)(1) and (d). The property consisted of funds payable to the debtors pursuant to the provisions of a settlement agreement, an escrow agreement, and a purchase agreement. Defendants filed motion to dismiss the complaint for failure to state a claim.
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Court
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