Leibowitz v. First Chicago Bank & Trust (In re IFC Credit Corp.)

Ruling: 
Debtor's former officers' and directors' lawsuits enjoined for 90 days.
Procedural posture: 
Chapter 7 trustee sought a preliminary injunction pursuant to 11 U.S.C.S. § 105(a) to stay lawsuits brought by defendant creditors against former officers and directors of the debtor. The trustee's motion also sought to enjoin any attempts by the former officers and directors to incur legal defense expenses or otherwise obtain possession or control of the proceeds of the debtor's directors and officers policy (the policy).
Issue: 
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Commercial case opionion summary, case decided on January 27,2010, LexisNexis #0310-072