In Chapter 11 proceedings filed by two companies involved in oil and gas explorations, district court's order dismissing the bankruptcy petitions for lack of good faith is affirmed as there is ample evidence supporting the finding of the court that the debtors' bankruptcy petitions served no valid bankruptcy purpose and were used primarily as a litigation tactic to protect debtors and their parent companies from liability in pending litigation.
Read In re: 15375 Memorial Corp., No. 09-1391
Appellate Information
On Appeal from the United States District Court for the District of Delaware
Opinion Filed December 22, 2009
Judges
Before: Sloviter, Fuentes, and Smith, Circuit Judges
Opinion by Circuit Judge Smith
Counsel:
For Appellant: John D. Demmy, Stevens & Lee; Gregory W. Werkheiser, Norris Nichols Arsht & Tunnell
For Appellee: Philip G. Eisenberg, Kevin J. Mangan
