11th Circ. Denies Debtor's Subject Jurisdiction Claim

Law360, New York (December 3, 2008, 12:00 AM EST) -- A federal appeals court ruled Tuesday that a creditor seeking to commence an involuntary bankruptcy proceeding against Trusted Net Media Holdings LLC need not meet the requirements listed in the U.S. code for the bankruptcy court to have subject matter jurisdiction over the dispute.

Sitting en banc, the U.S. Court of Appeals for the Eleventh Circuit rejected an appeal from Chapter 7 debtor Trusted Net, which had argued that U.S.C. 303(b) requirements for involuntary bankruptcy were subject matter jurisdictional and that both the U.S. Bankruptcy Court...
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