Sears v. Sears, No. 16-6014 (8th Cir. 2017)
Annotate this CaseThe Bankruptcy Appellate Panel affirmed the bankruptcy court's order granting defendants' motion to dismiss plaintiffs' complaint. The panel held that the bankruptcy court was correct in concluding it had "arising in" jurisdiction; the bankruptcy court had, at minimum, "related to" jurisdiction; and plaintiffs have consented to the authority of the bankruptcy court. The panel also held that the bankruptcy court had continuing jurisdiction notwithstanding the closing of the case; plaintiffs' complaint was barred by res judicata; and the bankruptcy court did not err in finding the shareholders standing rule prevented plaintiffs from asserting the claims.
Court Description: Kressel, Author, with Federman and Shodeen, Bankruptcy Judges] Bankruptcy Appellate Panel.The Bankruptcy Court correctly concluded it had "arising in" jurisdiction under 11 U.S.C. Sec. 1334(b); the court also had "related to" jurisdiction under Title 11; in any event plaintiffs consented to the authority of the bankruptcy court by failing to object to the court's authority; the court had continuing jurisdiction notwithstanding the closing of the case; the court did not err in dismissing plaintiffs' complaint on the ground the claims were barred by res judicata; the Bankruptcy Court did not err in finding the shareholders standing rule prevented the plaintiffs from asserting their claims. [ August 08, 2017
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