Spencer ad hoc Equity Committee v. Idearc, Inc., No. 10-10858 (5th Cir. 2011)
Annotate this CaseSpencer Committee appealed two orders of the district court: (1) the denial of the Spencer Committee's appeal of the bankruptcy court's confirmation order of the reorganization plan (Plan) by Idearc on the grounds of equitable mootness and (2) denial of the Spencer Committee's motion for a trial de novo of its fraud claims. The court held that the Spencer Committee appeared before the bankruptcy court and did not obtain a stay; the Plan had been substantially consummated; and the Spencer Committee's requested relief would adversely impact the success of the Plan or the rights of third parties not before the court. Accordingly, on the grounds of equitable mootness, the court affirmed the district court's order granting Idearc's motion to dismiss the Spencer Committee's appeal of the Confirmation Order of the Plan.
The court issued a subsequent related opinion or order on November 2, 2011.
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