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IN RE TOWER AIR, INC.

No. 04-3633.

416 F.3d 229 (2005)

In re: TOWER AIR, INC., Debtor. Charles A. Stanziale, in his capacity as Chapter 7 Trustee of Tower Air, Inc., Appellant v. Morris K. Nachtomi; Steven L. Gelband; Stephen A. Osborn; Henry P. Baer; Leo-Arthur Kelmenson; Eli J. Segal; Terry V. Hallcom.

United States Court of Appeals, Third Circuit.

August 3, 2005.

Attorney(s) appearing for the Case

John L. Reed (argued), Matt Neiderman, Duane Morris LLP, Wilmington, Delaware, John J. Soroko, Duane Morris LLP, Diane E. Vuocolo, Philadelphia, Pennsylvania, for Appellants.

Bruce E. Jameson (argued), Prickett, Jones & Elliot, P.A., Wilmington, Delaware, Robert M. Kaplan, Robson Ferber Frost Chan & Essner LLP, New York, New York, Rodney M. Zerbe, Dechert LLP, New York, New York, P. Gregory Schwed, Loeb & Loeb, New York, New York, for Appellees.

Before NYGAARD, SMITH, and FISHER, Circuit Judges.

OPINION OF THE COURT

SMITH, Circuit Judge.

How far will the federal courthouse door swing open for a direct suit against corporate directors and officers for breaches of fiduciary duties? That is the difficult question presented in this case, which pits our federal notice pleading regime against Delaware's more restrictive notice pleading requirements. The appellant, Charles Stanziale, is the trustee of a bankrupt airline, Tower Air, Inc. He claims that...

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