Firefighters' Retirement Sys, v. Citco Group, No. 14-30857 (5th Cir. 2015)
Annotate this CaseThis appeal arose when plaintiffs filed suit against defendants, alleging that defendants violated various Louisiana securities laws, among other state law claims. On appeal, defendants challenged the district court's order of remand on the basis that the district court lacked the discretion to abstain from hearing the case. The court concluded that the district court could not permissively abstain and equitably remand under 28 U.S.C. 1334(c)(1) and 1452(b) without considering the Chapter 15 bankruptcies at issue. Accordingly, the court reversed the district court’s decision to remand the case to state court and remanded to the district court for consideration under its bankruptcy jurisdiction.
The court issued a subsequent related opinion or order on August 6, 2015.
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