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IN RE FITNESS HOLDINGS INTERN., INC.

No. 11-56677.

714 F.3d 1141 (2013)

In the Matter of FITNESS HOLDINGS INTERNATIONAL, INC., Debtor. Official Committee of Unsecured Creditors, of the Estate of Fitness Holdings International, Inc., Appellant, v. Hancock Park Capital II, L.P., a Delaware Limited Partnership; Pacific Western Bank; Kenton Van Harten; Michael Fourticq, Sr.; Hancock Park Associates, III; Hancock Park Associates, Appellees.

United States Court of Appeals, Ninth Circuit.

Filed April 30, 2013.

Attorney(s) appearing for the Case

Richard D. Burstein and Robyn B. Sokol , Ezra Brutzkus Gubner, LLP, Woodland Hills, CA; Larry W. Gabriel (argued), Jenkins Mulligan & Gabriel, LLP, Woodland Hills, CA; David J. Richardson , Richardson Buchanan, PC, Los Angeles, CA, for Appellants.

David K. Eldan (argued), Parker, Milliken, Clark, O'Hara & Samuelian, Los Angeles, CA, for Appellee Pacific Western Bank.

Ralph F. Hirschmann (argued) and Shane W. Tseng , Hirschmann Law Group, Los Angeles, CA, for Appellee Kenton Van Harten.

Lawrence C. Barth and M. Lance Jasper (argued), Munger, Tolles & Olson, LLP, Los Angeles, CA, for Appellees Hancock Park Capital II, L.P., Michael Fourtieq, Sr. , Hancock Park Associates, III and Hancock Park Associates.

Before: CONSUELO M. CALLAHAN, SANDRA S. IKUTA, and ANDREW D. HURWITZ, Circuit Judges.

OPINION

IKUTA, Circuit Judge:

This case presents the question whether a debtor's pre-bankruptcy transfer of funds to its sole shareholder, in repayment of a purported loan, may be a constructively fraudulent transfer under 11 U.S.C. § 548(a)(1)(B). In order to answer this question, we must determine whether a bankruptcy court has the power to recharacterize the purported loan as an equity investment. We hold that a court has the authority to determine...

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