United States Seventh Circuit
In re S. Beach Sec., Inc., 09-3079
In Chapter 11 proceedings, district court's affirmance of bankruptcy judge's refusal to confirm the debtor's reorganization plan and dismissal of the bankruptcy proceeding is affirmed where: 1) debtor's argument that the U.S. Trustee lacks standing because he is not a party in interest is rejected; 2) reorganization plan had not been proposed in good faith as the debtor's disclosure statement suggests no purpose other than to beat taxes; and 3) debtors and the lawyers that appeared for them in court are order to show cause why they should not be sanctioned for their conduct in their frivolous appeal.
Appellate Information
- Argued 02/19/2010
- Decided 05/19/2010
- Published 05/19/2010
Judges
- POSNER, Circuit Judge., Before POSNER, FLAUM, and WOOD, Circuit Judges.
Court
- United States Seventh Circuit