THE OFFICIAL COMM. OF UNSECURED CREDITORS OF CYBERGENICS CORP. v. CHINERY, 01-3805
Only a trustee or debtor-in possession has the power to invoke 11 U.S.C. section 544(b) to avoid fraudulent transfers, and a court may not authorize a creditor or creditors' committee to bring suit under section 544 derivatively.
- Argued 02/19/2003
- Decided 09/20/2002
- Published 09/20/2002
- Before BECKER, Chief Judge, SLOVITER, SCIRICA, ALITO, ROTH, McKEE, RENDELL, BARRY, AMBRO, FUENTES and SMITH, Circuit Judges.
- United States Third Circuit
- For Appellant:
- Gary D. Sesser (Argued), James Gadsden, Roxanna D. Nazari, Carter, Ledyard & Milburn, New York, for Appellant Official Committee of Unsecured Creditors of Cybergenics Corp., Jonathan C. Lipson, Assistant Professor of Law, University of Baltimore School of Law, Baltimore, Amicus Law Professors in support of Appellant., G. Eric Brunstad, Jr. (Argued), Julia Frost-Davies, Rheba Rutkowski, Bryan D. Short, Tanya Tymchenko, Melissa G. Liazos, Justin M. O'Sullivan, Seth A. Schwartz, Rachel A. Viscomi, Steven M. Ackley-Ortiz, Serena D. Madar, Bingham McCutchen LLP, Boston, Amicus in support of Appellant., Teresa K.D. Currier, Eric Lopez Schnabel, Jeffrey R. Waxman, Klett Rooney Lieber & Schorling, Wilmington, Daniel H. Golden, David H. Botter, Robert J. Stark, Akin Gump Strauss Hauer & Feld LLP, New York, for Amicus Committee of Unsecured Creditors of Hayes Lemmerz International, Inc. in support of Appellant., Luc A. Despins, Susheel Kirpalani, Roy C. Studness, Milbank, Tweed, Hadley & McCloy LLP, New York, for Amicus Official Committee of unsecured Creditors of Safety-Kleen Corp. in support of Appellant.
- For Appellees:
- Brian J. Molloy (Argued), Lauren D. Daloisio, Wilentz, Goldman & Spitzer, Woodbridge, for Appellees Chinery and L&S Research Corporation., Bruce E. Fader (Argued), Scott A. Eggers, Proskauer Rose LLP, New York, for Appellees Lincolnshire Management, Inc., George R. Hirsch (Argued), Elyssa S. Kates, Bressler, Amery & Ross, P.C., Morristown, for Amicus Smurfit-Stone Corp. in support of Appellees., Keith Sharfman, Associate Professor of Law, Rutgers University School of Law, Newark, Amicus in support of Appellees.