Sears v. Sears, No. 15-3352 (8th Cir. 2017)
Annotate this CaseThe Eighth Circuit affirmed the grant of summary judgment in favor of several creditors in this Chapter 11 debtor-in-possession case. The court held that the judgment allowed proofs of claim totaling over $5.2 million and there was no merit to debtor's several objections. In this case, the sale agreement was not executory; none of debtor's contractual defenses have merit because all of the challenged conduct occurred after debtor filed for bankruptcy; and the court rejected debtor's procedural arguments.
Court Description: Colloton, Author, with Beam and Gruender, Circuit Judges] Civil case - Bankruptcy. The Bankruptcy Court's order allowing proofs of claims totaling over $5.2 million is affirmed as none of Korley Sears' contractual defenses have merit; the Bankruptcy Court did not err in allowing the claims despite a potential shortcoming in the itemization of interest.
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