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IN RE URBAN BROADCASTING CORP.

No. 04-1262.

401 F.3d 236 (2005)

In Re: URBAN BROADCASTING CORPORATION, Debtor. Theodore M. White, Appellant, v. Univision Of Virginia Incorporated, Appellee, Stanley M. Salus, Trustee-Appellee, and U.S. Trustee, Party-in-interest.

United States Court of Appeals, Fourth Circuit.

Decided: March 11, 2005.

Attorney(s) appearing for the Case

ARGUED: Andrew James Toland, III, William H. Murphy, Jr., William H. Murphy, Jr. & Associates, P.A., Baltimore, Maryland, for Appellant. Evan McGuire Jones, O'Melveny & Myers, L.L.P., Los Angeles, California, for Appellee Univision of Virginia, Inc. ON BRIEF: Austin K. Barron, Gabriel S. Dermer, O'Melveny & Myers, L.L.P., Los Angeles, California, for Appellee Univision of Virginia, Inc.

Before NIEMEYER, MICHAEL, and DUNCAN, Circuit Judges.

Affirmed by published opinion. Judge NIEMEYER wrote the opinion, in which Judge MICHAEL and Judge DUNCAN joined.

OPINION

NIEMEYER, Circuit Judge:

In this Chapter 7 bankruptcy of Urban Broadcasting Corporation ("UBC"), Univision of Virginia, Inc. ("Univision"), a 45% owner of UBC's stock, filed a claim to require UBC to buy its 45% equity interest in accordance with a put/call agreement between it and UBC. Because the bankruptcy estate had approximately...

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