Vantage Drilling Co. v. TMT Procurement Corp., et al., No. 13-20622 (5th Cir. 2014)
Annotate this CaseVantage appealed three orders from the district court and two orders from the bankruptcy court entered during the course of the Chapter 11 proceedings of twenty-one shipping companies. The orders' combined effect was to place certain shares of Vantage stock in custodia legis with the clerk of the court. The court concluded that the appeals are not moot, that the Vantage Shares are not "property of the estate," and that the Vantage Litigation is not "related to" the bankruptcy proceedings. In this case, the district court and the bankruptcy court had no subject-matter jurisdiction to enter the orders and, therefore, the court vacated and remanded for further proceedings. The court denied debtors' Motion to Dismiss Appeals.
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