United States Second Circuit

A creditors' committee may acquire standing to pursue a debtor's claims if the committee has consent of the debtor in possession or trustee, the court finds that suit is in the best interest of the bankruptcy estate, and it is "necessary and beneficial".

Appellate Information

• Argued 07/09/2001
• Decided 08/09/2001
• Published 08/09/2001

Judges

• JOHN M. WALKER, Jr., Chief Judge:, Before WALKER, Chief Judge, CABRANES and STRAUB, Circuit Judges.

Court

• United States Second Circuit

Counsel

• For Appellant:
  
• Curtis C. Mechling (Adam S. Grace, Of Counsel), Stroock & Stroock & Lavan, LLP, New York, NY (for Plaintiffs-Appellants Creditors Committee).


• For Appellees:
  
• Jonathan D. Thier (Richard C. Schoenstein, Of Counsel), Cahill Gordon & Reindel, New York, NY (for Defendants-Appellees).