Badami v. Sears, No. 11-6065 (8th Cir. 2012)
Annotate this CaseRobert A. Sears appealed from a bankruptcy court order finding that the bankruptcy estate of AFY was contractually and equitably entitled to receive the cash value of a life insurance policy, owned by Sears and paid for by AFY, to reimburse AFY for policy premiums paid. The court held that the bankruptcy court possessed the jurisdiction and constitutional authority to enter final judgment and AFY was not contractually or equitably entitled to the cash value of the policy. Accordingly, the decision of the bankruptcy court was reversed.
Court Description: Bankruptcy Appellate Panel. The bankruptcy court possessed the jurisdiction and the constitutional authority to enter final judgment in this adversary action; AFY was not contractually or equitably entitled to the cash value of the life insurance policy in issue. [ January 12, 2012
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