United States Eighth Circuit

In a bankruptcy action, grant of summary judgment in favor of defendant is affirmed where: 1) the district court and bankruptcy court did not err in concluding that the payments defendants received in exchange for their privately-held stock were exempt settlement payments within the meaning of former Bankruptcy Code sec. 546(e); and 2) bankruptcy court properly granted summary judgment on plaintiff's state law claims for unjust enrichment and illegal and/or excessive shareholder distributions as the claims were preempted by former Bankruptcy Code sec. 546(e).

Appellate Information

• Decided 04/29/2009
• Published 04/29/2009

Judges

• BEAM, Circuit Judge., Before WOLLMAN, BEAM, and BENTON, Circuit Judges.

Court

• United States Eighth Circuit

Counsel

• For Appellant:
  
• Thomas Randall Wright, argued, Omaha, NE, Robert V. Ginn, Omaha, NE, Paul B. Bran, Washington, DC, on the brief, for appellant.


• For Appellees:
  
• William M. Lamson, Jr., argued, Frank M. Schepers, Craig F. Martin, Omaha, NE, on the brief, for appellee.