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IN RE STRUCTURLITE PLASTICS CORP.

BAP Nos. 97-8096, and 97-8114.

224 B.R. 27 (1998)

In re STRUCTURLITE PLASTICS CORPORATION, Debtor. SPC PLASTICS CORPORATION and Official Unsecured Creditors' Committee of SPC Plastics Corporation, Plaintiffs-Appellees, v. Robert E. GRIFFITH, Charles D. Jones, Helen E. Griffith, Geraldine W. Jones, E. Clark Morrow, John W. Alford, Robert E. Griffith, II, Charles D. Jones, Jr., Larry Cox, William Jones, GLL Industries of Ohio, Inc., George L. Levy, Laurence M. Luke, GL Industries, Inc., Defendants-Appellants.

United States Bankruptcy Appellate Panel of the Sixth Circuit.

Decided August 25, 1998.

Attorney(s) appearing for the Case

James R. Cooper, Morrow, Gordon & Byrd, Newark, OH, argued and on brief, for Appellants.

John E. Hoffman, Jr., Arter & Hadden, Columbus, OH, argued and on brief, for Appellees.

Before: BAXTER, LUNDIN, and STOSBERG, Bankruptcy Appellate Panel Judges.

OPINION

The bankruptcy court granted summary judgment to the Plaintiffs/Appellees in these fraudulent conveyance and equitable subordination actions against the former shareholders in a failed leveraged buyout. We affirm in part, reverse in part, and remand for resolution of disputed facts with respect to the Debtor's insolvency.

I. ISSUES ON APPEAL

A. Whether the Plaintiffs have standing to assert fraudulent conveyance claims against the former...

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