[Download] "In Re Omegas Group Inc." by United States Court Of Appeals For The Sixth Circuit # Book PDF Kindle ePub Free

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eBook details

• Title: In Re Omegas Group Inc.
• Author : United States Court Of Appeals For The Sixth Circuit
• Release Date : January 18, 1994
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 70 KB

Description

Understandably, creditors of bankrupt debtors often feel like restaurant patrons who not only hate the food, but think the portions are too small.*fn1 To press the analogy, they also don't like having to wait in line for a table, possibly being seated only to find out the kitchen has just closed. The bankruptcy court is a little like a soup kitchen, ladling out whatever is available in ratable portions to those standing in line; nonetheless, scarcity begets innovation in the hungry creditor's quest to get a little more than the next fellow. This case involves just such an effort. The creditor claimed the debtor defrauded it, and argued before the bankruptcy court, with partial success, that money paid to the debtor in the course of a business transaction was held in constructive trust since the debtor knew bankruptcy was imminent but assured the creditor otherwise. The district court agreed with this Disposition. Since we hold that the bankruptcy court erred in applying the law of constructive trust to this bankruptcy situation, we reverse.

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