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IN RE LAN ASSOCIATES XI, L.P.

No. 98-5434.

192 F.3d 109 (1999)

In re LAN ASSOCIATES XI, L.P. Patricia A. Staiano, United States Trustee v. James J. Cain, Trustee for Lan Associates XI, L.P., Appellant

United States Court of Appeals, Third Circuit.

Decided October 5, 1999.

Attorney(s) appearing for the Case

Arthur H. Jones, Jr. (Argued), Ronald L. Glick, Mesirov, Gelman, Jaffe, Cramer & Jamieson, Philadelphia, Pennsylvania, for Appellant.

Robert J. Schneider (Argued), Patricia A. Staiano, United States Trustee, Donald F. Walton, Assistant U.S. Trustee, Office of the United States Trustee, Newark, New Jersey, for Appellee.

Joseph I. Wittman, National Association of Bankruptcy Trustees "NABT," Topeka, Kansas, for Amicus Curiae-Appellant.

Before: SCIRICA, ROTH, and McKAY, Circuit Judges.

OPINION OF THE COURT

McKAY, Circuit Judge.

The standing trustee in this matter, Appellant James J. Cain, appeals from a district court order which reversed a bankruptcy court award of final compensation in the amount of $184,888.25 and $999.40 in costs. Based on the language of 11 U.S.C. § 326(a), the district court held that the trustee should not have received compensation based on a $7,781,200.00 credit bid sale. The district court also determined...

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