IN RE INTEGRA REALTY RESOURCES, INC.

Nos. 99-1344, 99-1416, 99-1468, 99-1477, 99-1483, 99-1498, 99-1523 and 99-1546.

262 F.3d 1089 (2001)

In re INTEGRA REALTY RESOURCES, INC.; Integra — a Hotel and Restaurant Company; BHC of Denver, Inc., Debtors. Jeffrey A. Weinman, as Trustee for the Integra Unsecured Creditors' Trust, Plaintiff-Appellee, v. Fidelity Capital Appreciation Fund, Defendant-Appellee, Ad Hoc Protective Committee for Showbiz Stockholders; Rodney J. Axtell, individually and as custodian for Jonathan Axtell; Mary E. Axtell; Eunice H. Beck; Robert R. Beck; Richard H. Beck; Eleanor S. Beck; Michael Benenson; Kerri Beneson, as Trustees; Julius B. Binder, as Trustee; Binders' Big Men's Store, Inc.; James Bogeazis; Joseph M. Cocquoyt; Maurice Gardler; David Gardner; Martin Greenberg; Leon Gredahl; Robert J. Harris; Michael J. Hayes; Edward Herzig; Rodney William Kennow; Richard O. Jacobson; Fern Lazar; Murray Lazar; Kathryn L. Ludgren; Joseph Mastrangelo; Charles H. Morin; Herbert Nadler; Rochelle Nadler; Frank Nichol; Barbara Nichol; Robert V. Palan, individually and as custodian for David Barry; Charles Potter; Racquel-Division of Binder's Big Men's Store; Gladys Ryan; Donald J. Resnick; Rachnall Schlafstein; Sydelle Schechter; John T. Sheehy; Carl Schechter; Seidman & Seidman, PC Profit Sharing Trust; James R. Shapiro; Leon D. Sheldahl; Irving Sirota; E. Thomas Spengler; Hjalmar J. Sundin, as Trustee; Frederick K. Watson, Jr.; Ben Wong, Jr.; Benjamin B. Wong; Grace C. Wong; Vance E. Vorhees; Lawrence Zucker, and any and all additional parties who either have joined or will join the said Committee, Defendants-Appellants. Jeffrey A. Weinman, as Trustee for the Integra Unsecured Creditors' Trust, Plaintiff-Appellee, v. Fidelity Capital Appreciation Fund, Defendant-Appellee, Ad Hoc Protective Committee for Show Biz Stockholders; Rodney J. Axtell, individually and as custodian for Jonathan Axtell; Mary E. Axtell; Kamal Barsoum; Eunice H. Beck; Robert R. Beck; Richard H. Beck; Eleanor S. Beck; Michael Benenson; Kerri Beneson, as Trustees; Julius B. Binder, as Trustee; Binders' Big Men's Store, Inc.; James Bogeazis; Joseph M. Cocquoyt; Darrell H. Cooper; Robert Domine; Maurice Gardler; David Gardner; Martin Greenberg; Leon Gredahl; Perry Green; Robert J. Harris; Michael J. Hayes; Edward Herzig; Rodney William Kennow; Fern Lazar; Murray Lazar; Kathryn L. Ludgren; Joseph Mastrangelo; Charles H. Morin; Herbert Nadler; Rochelle Nadler; Frank Nichol; Barbara Nichol; Nicole Neiman; Robert V. Palan, individually and as custodian for David Barry; Charles Potter; Racquel-Division of Binder's Big Men's Store; Gladys Ryan; Donald J. Resnick; Elsie V. Rosamen; Serita Server; Rachnall Schlafstein; Sydelle Schechter; John T. Sheehy; Carl Schechter; Seidman & Seidman, PC Profit Sharing Trust; James R. Shapiro; Leon D. Sheldahl; Irving Sirota; Hjalmar J. Sundin, as Trustee; Frederick K. Watson, Jr.; Ben Wong, Jr.; Benjamin B. Wong; Grace C. Wong; Vance E. Vorhees; Jerome Younger; Marcella Youner; Lawrence Zucker, Defendants-Appellants. Jeffrey A. Weinman, as Trustee for the Integra Unsecured Creditors' Trust, Plaintiff-Appellee, v. Fidelity Capital Appreciation Fund, Defendant-Appellee, Ad Hoc Protective Committee For Show Biz Stockholders; Eugene Shine; and Edward C. Cafmeyer, Defendants-Appellants. Jeffrey A. Weinman, as Trustee for the Integra Unsecured Creditors' Trust, Plaintiff-Appellee, v. John E. Anderson; Jane Anderson, Defendants-Appellants. Jeffrey A. Weinman, as Trustee for the Integra Unsecured Creditors' Trust, Plaintiff-Appellee, v. Vanguard Group, Inc., Defendant-Appellant, Fidelity Capital Appreciation Fund, Intervenor. Jeffrey A. Weinman, as Trustee for the Integra Unsecured Creditors' Trust, Plaintiff-Appellee, v. Russell Hawley; Gerald Buckman; Robert Frankiewicz; Bernard Neuman, Custodian for Jordan Abba Neuman Utma IL; Jordan Neuman; Jonathan Neuman; James S. Saunoris; Sandra R. Saunoris; James S. Saunoris and Wayne Hummer & Co., Custodian FBO James S. Saunoris IRA Plan; Keith J. Peetz; Louis Bory; Grace Charles, FBO Grace Charles IRA; Michael J. Connelly; Ronald Manzi; Bernard Packer, FBO Bernard Packer IRA and trustee(s) thereof; Joseph Regan; Kenneth J. Greenberg; Sherrie Greenberg; Edwin Blair Plyler; Ellen Plyler; John J. Wilk, Defendants-Appellants, Harriet Yang and Automated Electronics Corporation, Defendants, Fidelity Capital Appreciation Fund, Intervenor. Jeffrey A. Weinman, as Trustee for the Integra Unsecured Creditors' Trust, Plaintiff-Appellee, v. Raleigh Emery; Catherine Emery; Arnold Cutkomp; Joellen Cutkomp, also known as Ellen Cutkomp; Michael Bergantino; Michael Bergantino, Trustee FBO Michael Bergantino IRA; Peggie Bergantino; Melvin Churovich; Ruth E. Churovich; G. James Zyskowski; Marilyn J. Zyskowski; Marilyn J. Zyskowski, Custodian FBO Julie Anne Zyskowski Ugma MN, Defendants-Appellants, Concept Forms, Inc. Pension Plan 12/21/83, and Trustee(s) thereof, Defendants, Fidelity Capital Appreciation Fund, Intervenor. Jeffrey A. Weinman, as Trustee for the Integra Unsecured Creditors' Trust, Plaintiff-Appellee, v. Michael Friedman, Michael Friedman as custodian for Jonathan Friedman; Harriet Friedman; Ad Hoc Protective Committee for Show Biz Stockholders, Defendants-Appellants.

United States Court of Appeals, Tenth Circuit.

August 21, 2001.


Attorney(s) appearing for the Case

I. Walton Bader, Bader and Bader, White Plains, New York, for the Defendants-Appellants in case numbers 99-1344, 99-1416, 99-1477, 99-1468, and 99-1546.

James S. Dittmar, Hutchins, Wheeler & Dittmar, P.C., Boston, Massachusetts (Tucker K. Trautman, Dorsey & Whitney, Denver, Colorado and Richard R. Lavin, FMR Corp., Boston, Massachusetts, with him on the briefs), for Defendant-Appellee Fidelity Capital Appreciation Fund.

John C. Smiley, Harold G. Morris, Jr., Patrick D. Frye of Lindquist, Vennum & Christensen, P.L.L.P., Denver, Colorado, filed a brief on behalf of the Plaintiff-Appellee Jeffrey A. Weinman.

Jeffrey J. Greenbaum, Sills Cummis Radin Tischman Epstein & Gross, P.A., Newark, N.J. (Steven J. Gorelick, Sills Cummis Radin Tischman Epstein & Gross, P.A., Newark, N.J.; and Chesley K. Culp III and Dianne M. Kueck, Moye, Giles, O'Keefe, Vermeire & Gorrell, LLP, Denver, Colorado, with him on briefs), for Defendants-Appellants in case numbers 99-1483, 99-1498 and 99-1523.

Before EBEL and ANDERSON, Circuit Judges, and BRORBY, Senior Circuit Judge.


EBEL, Circuit Judge.

The defendant class action giving rise to the multiple appeals addressed in this opinion was filed under the federal Bankruptcy Code, 11 U.S.C. §§ 105, 544, 550, 1123 and 1145, to recover the value of assets of a bankrupt corporation which were spun off to shareholders prior to the bankruptcy. The events giving rise to the action began in 1988, when Integra Realty Resources, Inc. ("Integra"), a hotel and restaurant company, spun off...

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