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  • In Re: v. Hill, 1st Cir. (1998)

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    The US Court of Appeals for the First Circuit affirmed the judgment of the bankruptcy court. The only issue before the courts was whether the bankruptcy court abused its discretion in approving a compromise of a state court action, given the appellant's offer to purchase the action for a larger sum. At the time of approval, conveying the action to the appellant would have subjected the bankruptcy estate to risks of indeterminate magnitude. Therefore, the bankruptcy court did not abuse its discretion in determining it was in the best interests of the estate to compromise the action rather than accept such risks.

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    Filed: 1998-02-04 Precedential Status: Precedential Docket: 97-9006

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    The US Court of Appeals for the First Circuit affirmed the judgment of the bankruptcy court. The only issue before the courts was whether the bankruptcy court abused its discretion in approving a compromise of a state court action, given the appellant's offer to purchase the action for a larger sum. At the time of approval, conveying the action to the appellant would have subjected the bankruptcy estate to risks of indeterminate magnitude. Therefore, the bankruptcy court did not abuse its discretion in determining it was in the best interests of the estate to compromise the action rather than accept such risks.

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    8 views6 pages

    In Re: v. Hill, 1st Cir. (1998)

    Uploaded by

    Scribd Government Docs
    The US Court of Appeals for the First Circuit affirmed the judgment of the bankruptcy court. The only issue before the courts was whether the bankruptcy court abused its discretion in approving a compromise of a state court action, given the appellant's offer to purchase the action for a larger sum. At the time of approval, conveying the action to the appellant would have subjected the bankruptcy estate to risks of indeterminate magnitude. Therefore, the bankruptcy court did not abuse its discretion in determining it was in the best interests of the estate to compromise the action rather than accept such risks.

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    of 6

    USCA1 Opinion

    [NOT FOR PUBLICATION]

    UNITED STATES COURT OF APPEALS


    FOR THE FIRST CIRCUIT
    ____________________

    No. 97-9006

    IN RE:

    Moorhead Corporation, MLX Corporation & First


    Heidie's Inc.

    Debtors.
    ____________________

    MARIA HILL,

    Appellant.

    v.

    JOHN A. BURDICK, JR.,

    Chapter 7 Trustee,
    and Friends of Russells Mills, Inc.,

    Appellees.
    ____________________

    APPEAL FROM THE BANKRUPTCY APPELLATE PANEL

    OF THE FIRST CIRCUIT


    ____________________

    Before

    Torruella, Chief Judge,


    ___________
    Selya and Stahl, Circuit Judges.
    ______________
    ____________________

    Maria K. Hill on brief pro se.


    _____________

    Burdick & DiLeo, P.C. on brief for appellee John


    _____________________

    A. Burdick, J

    Chapter 7 Trustee.
    Robert A. Fasanella,
    ____________________

    Peter A. Wilson
    ________________

    and Fasanella, Johnso


    __________________

    Wood, P.C. on brief for appellees, Friends of Russells Mills, Inc.


    __________
    ____________________

    FEBRUARY 4, 1998
    ____________________

    Per Curiam.
    __________

    We have carefully reviewed the

    record and

    briefs on

    court.

    appeal and affirm

    The

    properly

    only issue

    before us, is

    the judgment of

    raised below,

    the bankruptcy

    thus the

    whether the bankruptcy

    only issue

    court abused

    its discretion in approving the compromise, given appellant's

    offer to

    purchase the state

    In re LaRoche, 969 F.2d


    _____________

    time

    the compromise

    conveying

    the

    action for a larger

    1299, 1305 (1st Cir. 1992).

    was approved,

    cause

    of action

    the

    to

    to risk of indeterminate magnitude.

    bankruptcy

    court

    did

    not

    At the

    record showed

    appellant,

    compromising the action, would subject the

    the

    gross sum.

    that

    rather than

    bankruptcy estate

    Under the circumstances,

    abuse

    its

    discretion

    in

    determining that it would not be in the best interests of the

    estate to accept such risk.

    Jeffrey v. Desmond, 70 F.3d 183,


    _______
    _______

    185 (1st

    Cir. 1995);

    Depoister v.
    _________

    F.3d 582 (7th Cir. 1994).

    Affirmed.
    ________

    Loc. R. 27.1.

    -2-

    Holloway Foundation,
    ___________________

    36

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