11th Circ. OKs Trustee's Recovery Of Marathon Funds

Law360, New York (March 17, 2010, 5:28 PM EDT) -- An appeals court has ruled that a trustee may recover about $1.9 million paid to Marathon Petroleum Co. LLC in the course of the now-defunct Delco Oil Inc.’s bankruptcy, finding that the funds should not have been paid without the court’s permission and affirming the sanctity of cash collateral.

A three-judge panel issued the ruling Tuesday in the U.S. Court of Appeals for the Eleventh Circuit affirming decisions by the U.S. District Court and the U.S. Bankruptcy Court for the Middle District of Florida and rejecting...
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