Boyer v. Crown Stock Distrib., Inc., 09-1699
In Chapter 7 bankruptcy proceedings in which the trustee filed an adversary action against the defendants claiming fraudulent conveyance under the section 4(a)(2) of the Uniform Fraudulent Transfer Act, judgment in favor of the trustee is affirmed in part and reversed in part where: 1) bankruptcy court did not commit clear error in finding that the statutory condition for a fraudulent conveyance was satisfied; and 2) district court's ruling with respect to the dividend is reversed as the trustee is entitled to the dividend because it was an integral part of the leveraged buy-out.
- Argued 10/09/2009
- Decided 11/18/2009
- Published 11/18/2009
- POSNER, Circuit Judge., Before POSNER, ROVNER, and WILLIAMS, Circuit Judges.
- United States Seventh Circuit
- For Appellant:
- Scot T. Skekloff, Skekloff, Adelsperger & Kleven, Fort Wayne, IN, for Debtor.
- For Appellees:
- Daniel J. Skekloff, Skekloff, Adelsperger & Kleven, Fort Wayne, IN, Kevin D. Finger (argued), James G. Richmond, Greenberg Traurig, Chicago, IL, for Plaintiff-Appellee/Cross-Appellant., Christopher M. Forrest, Matthew M. Hohman (argued), Barnes & Thornburg, Fort Wayne, IN, for Defendants-Appellants/Cross-Appellees.