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IN RE NTA, LLC

No. 03-2586.

380 F.3d 523 (2004)

In re NTA, LLC, and NTA II, LLC, Debtors. NTA, LLC, and NTA II, LLC, Appellants, v. Concourse Holding Company, LLC, Appellee.

United States Court of Appeals, First Circuit.

Decided August 17, 2004.

Attorney(s) appearing for the Case

Charles R. Bennett, Jr., with whom Harold B. Murphy and Jesse I. Redlener were on brief, for appellants.

Sabin Willett, with whom Julia Frost-Davies, Melissa G. Liazos, and Gregory N. Kazarian were on brief, for appellee.

Before TORRUELLA, LYNCH, and LIPEZ, Circuit Judges.

LIPEZ, Circuit Judge.

Appellants NTA and NTA II placed their primary assets, the Membership Interests in a company, into an escrow account as part of an agreement to avoid foreclosure by a lender, appellee Concourse Holding Company. Appellants subsequently filed for bankruptcy under Chapter 11. They now claim that the Membership Interests placed in escrow are part of the bankruptcy estate and not the property of the appellee. Both the bankruptcy court and the district...

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