11th Circ. Upholds Release For FFS Owner In Ch. 11 Plan

Law360, Wilmington (January 23, 2015, 8:47 PM EST) -- The Eleventh Circuit on Friday upheld a lower court's decision that IberiaBank Corp.'s claim against the owner of foreclosure listing company FFS Data Inc. over a $10.6 million loan was released by its Chapter 11 plan, ruling the bankruptcy court correctly denied the bank's bid to negate the release.

In a 19-page opinion penned by U.S. Circuit Judge Jill A. Pryor, the three-judge panel ruled that each of FFS' creditors were agreeing to give company principal Brad Geisen a general release in its Chapter 11 plan, confirmed in 2011, meaning he was cleared of his liability on the $5.3 million IberiaBank said...

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