United States Eighth Circuit

In a bankruptcy matter, denial of appellant's motion for derivative standing is reversed and remanded where: 1) creditor (or creditor's committee) may obtain derivative standing to pursue avoidance actions under circumstances in which the trustee (or debtor-in-possession) either unjustifiably refuses to bring the creditor's proposed claims or consents to the creditor pursuing such claims in his stead; and 2) the bankruptcy courts may retroactively grant a creditor derivative standing.

Appellate Information

• Decided 08/29/2008
• Published 08/29/2008

Judges

Court

• United States Eighth Circuit

Counsel