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CITICORP VENTURE CAPITAL, LTD. v. COMMITTEE OF CREDITORS HOLDING

Nos. 97-3518, 97-3519.

160 F.3d 982 (1998)

CITICORP VENTURE CAPITAL, LTD., a New York Corporation v. COMMITTEE OF CREDITORS HOLDING UNSECURED CLAIMS, and Committee of Creditors Holding Unsecured Claims as Estate Representative of Papercraft Corporation (D.C. Civil No. 95-cv-01872). COMMITTEE OF CREDITORS HOLDING UNSECURED CLAIMS, and Committee of Creditors Holding Unsecured Claims as Estate Representative of Papercraft Corporation, v. CITICORP VENTURE CAPITAL, LTD., a New York Corporation (D.C. Civil No. 95-cv-01886).

United States Court of Appeals, Third Circuit.

Decided November 24, 1998.

Attorney(s) appearing for the Case

Amy M. Tonti, Klett, Lieber, Rooney & Schorling, Pittsburgh, PA, Paul K. Vey, Pietragallo, Bosick & Gordon, Pittsburgh, PA, Lawrence J. Slattery (Argued), Citibank Legal Affairs Office, New York City, for Citicorp Venture Capital, Ltd.

Philip E. Beard, Stonecipher, Cunningham, Beard & Schmitt, Pittsburgh, PA, Stephan M. Ray (Argued) and K. John Shaffer, Stutman, Treister & Glatt, Los Angeles, CA, for Committee of Creditors Holding Unsecured Claims and Committee of Creditors Holding Unsecured Claims as Estate Representative of Papercraft Corporation.

BEFORE: STAPLETON and ROSENN, Circuit Judges, and RESTANI, Judge

OPINION OF THE COURT

STAPLETON, Circuit Judge:

This appeal is from a decision in an adversary proceeding brought by plaintiff-appellant/cross-appellee Committee of Creditors Holding Unsecured Claims (the "Committee") against defendant-appellee/cross-appellant Citicorp Venture Capital, Ltd. ("CVC"). The action arises out of the chapter 11 reorganization of Papercraft Corporation filed in the Western District of Pennsylvania. The Committee claims that CVC...

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