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LOOP CORP. v. U.S. TRUSTEE

No. 03-1786.

379 F.3d 511 (2004)

LOOP CORP.; Leon Greenblatt; Nola, LLC; Repurchase Corp.; Leslie Jabine; Teletech Systems, Inc.; Chiplease, Inc.; Banco Panamericano, Creditors—Appellants, v. UNITED STATES TRUSTEE; Committee of Unsecured Creditors, Movants Below—Appellees.

United States Court of Appeals, Eighth Circuit.

Filed: August 16, 2004.

Attorney(s) appearing for the Case

Brian L. Shaw (argued), Chicago, IL (Jane S. Welch and Daniel J. McGarry, Minneapolis, MN; and Robert M. Fishman and Allen J. Guon, Chicago, IL), for appellant.

Michael R. Fadlovich (argued), U.S. Trustee's Office, Minneapolis, MN, for appellee.

Before MORRIS SHEPPARD ARNOLD, JOHN R. GIBSON, and RILEY, Circuit Judges.

JOHN R. GIBSON, Circuit Judge.

The district court affirmed the bankruptcy court's Order of Conversion of the debtors' Chapter 11 case to a case under Chapter 7. Loop Corporation, a creditor which also owns approximately 50% of the debtors' stock, and various of Loop's affiliates (collectively "Loop") appeal, arguing that the bankruptcy court improperly interpreted and applied 11 U.S.C. § 1112(b). We affirm.

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