In re: 15375 Memorial Corp., No. 09-1391

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