5th Circ. Upholds Sanctions On Group Suing Bankrupt Lothian

Law360, New York (May 9, 2013, 7:50 PM EDT) -- The Fifth Circuit ruled Wednesday that sanctions imposed by a Texas bankruptcy court against a group of investors trying to sue bankrupt Lothian Oil should stand and that the group can't keep bringing actions against the oil company in state court.

The ruling was followed by a separate but related decision Thursday from the Second Circuit, which said an associated sanction order by a New York bankruptcy court was final, potentially clearing the way for Lothian to begin collecting.

The Anti-Lothian Bankruptcy Fraud Committee had been...
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