IN RE BAY PLASTICS, INC.

Bankruptcy No. LA 90-01884 SB. Adv. No. LA 92-01359-SB.

187 B.R. 315 (1995)

In re BAY PLASTICS, INC., Debtor. BAY PLASTICS, INC., Plaintiff, v. BT COMMERCIAL CORP., et al., Defendants. and related cross-actions.

United States Bankruptcy Court, C.D. California.

September 5, 1995.


Attorney(s) appearing for the Case

George A. Juarez and Catherine A. Steiner of Pachulski, Stang, Ziehl & Young, P.C., Los Angeles, CA, for debtor.

Ronnie H. Walker, Orlando, FL, and Earl Hagen, Hagen Hagen & Hagen, Encino, CA, for defendants.


AMENDED MEMORANDUM OF DECISION ON SUMMARY JUDGMENT MOTION

SAMUEL L. BUFFORD, Bankruptcy Judge.

I. INTRODUCTION

The debtor has brought this adversary proceeding against the selling shareholders of a leveraged buyout ("LBO") to recover the funds that they received in the buyout transaction. While the action was also brought against the bank that financed the transaction, the bank has settled. The Court grants summary judgment to the debtor on the...

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