8th Circ. Remands Dispute Over Bankruptcy Estate Property
By Stephanie Russell-Kraft
Law360, New York (February 5, 2014, 5:57 PM ET) -- In a precedential opinion Wednesday, the Eighth Circuit reversed and remanded a Nebraska bankruptcy court decision finding a $1.2 million investment was not the property of Tri-State Financial LLC’s bankruptcy estate, saying the lower court failed to address all of the parties’ arguments in its decision.
The appellate panel found the bankruptcy court overlooked several arguments when it ruled in May 2013 that the $1.19 million returned to Tri-State Financial’s Chapter 11 trustee by bankrupt ethanol plant Tri-State Ethanol Co. LLC after it entered Chapter 7...