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LOUISIANA WORLD EXPOSITION v. FEDERAL INS. CO.

No. 87-3264.

858 F.2d 233 (1988)

LOUISIANA WORLD EXPOSITION, Plaintiff-Appellant, v. FEDERAL INSURANCE COMPANY, et al., Defendants-Appellees.

United States Court of Appeals, Fifth Circuit.

October 11, 1988.

Attorney(s) appearing for the Case

Joseph E. Friend, Friend, Wilson, Spedale & Draper, New Orleans, La., Claude F. Reynaud, Jr., Christine Lipsey, Breazeale, Sachse & Wilson, Baton Rouge, La., for plaintiff-appellant.

Dermot S. McGlinchey, B. Franklin Martin, III, Stephen W. Rider, McGlinchey, Stafford, Mintz, Cellini & Lang, New Orleans, La., for Bagneris, et al.

John T. Nesser, III, Eric H. Weimers, New Orleans, La., Lee Squitieri, New York City, for Terence R.D. Burn, et al.

Before TIMBERS, KING and HIGGINBOTHAM, Circuit Judges.

KING, Circuit Judge:

Louisiana World Exposition, Inc. appeals from the district court's dismissal, for failure to state a claim upon which relief may be granted, of LWE's complaint against its officers and directors (and their respective insurers) for gross negligence, mismanagement and breach of fiduciary duty. LWE is a Louisiana nonprofit corporation presently in a case under Chapter 11 of the Bankruptcy Code. After having been authorized by the bankruptcy court...

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