United States Third Circuit

In Chapter 11 proceedings involving a bid for the debtors' largest asset, a power plant, bankruptcy court's denial of a bidder's request for disbursement of administrative expenses in the form of a break-up fee from the estate is affirmed as the court did not abuse its discretion when it concluded that an award of a break-up fee was not necessary to preserve the value of the estate.

Appellate Information

• Argued 11/03/2009
• Decided 01/15/2010
• Published 01/15/2010

Judges

• Before SCIRICA, Chief Judge, and JORDAN and GREENBERG, Circuit Judges.

Court

• United States Third Circuit

Counsel

• For Appellant:
  
• Andrew K. Glenn (argued), Kasowitz, Benson, Torres & Friedman, New York, NY, Garvan F. McDaniel, Bifferato Gentilotti, Wilmington, DE, for Appellant.


• For Appellees:
  
• Cory D. Kandestin, Robert J. Stearn, Jr. (argued), Richards, Layton & Finger, Wilmington, DE, for Appellees.