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Ahcom, Ltd. v. Smeding, No. 09-16020

By FindLaw Staff on October 23, 2010 1:15 PM

Alter Ego Action Against Bankrupt Company's Shareholders

In Ahcom, Ltd. v. Smeding, No. 09-16020, an action against the shareholders of a bankrupt corporation, the court reversed the dismissal of the complaint where a creditor of a corporation in bankruptcy has standing to assert a claim against the corporation's sole shareholders on an alter ego theory.

 

As the court wrote:  "This case poses the question of whether a creditor of a corporation in bankruptcy has standing to assert a claim against the corporation's sole shareholders on an alter ego theory or whether that claim belongs solely to the corporation's bankruptcy trustee. The district court had jurisdiction pursuant to 28 U.S.C. § 1332 and concluded that the claim belonged solely to the trustee. We have jurisdiction over this timely appeal under 28 U.S.C. § 1291, and we reverse and remand for further proceedings."

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