IN RE AMERICAN WAGERING, INC.

No. 05-15969.

465 F.3d 1048 (2006)

In re AMERICAN WAGERING, INC., a Nevada corporation; In re Leroy's Horse & Sports Place, a Nevada corporation, Debtors, Michael Racusin, d/b/a M. Racusin & Company, Appellant, v. American Wagering, Inc.; Leroy's Horse & Sports Place, Appellees.

United States Court of Appeals, Ninth Circuit.

Filed October 6, 2006.


Attorney(s) appearing for the Case

David N. Frederick, Dennis L. Kennedy, Sarah E. Harmon, Jennifer A. Smith, Lionel Sawyer & Collins, Las Vegas, NV, for the defendant-appellant.

Gerald M. Gordon, Thomas H. Fell, Ambrish S. Sidhu, Gordo & Silver, Las Vegas, NV, for the plaintiffs-appellees.

Before HUG, GILBERT S. MERRITT, and PAEZ, Circuit Judges.


MERRITT, Senior Circuit Judge.

This is an appeal from a decision of the Bankruptcy Appellate Panel for the Ninth Circuit in favor of debtors, American Wagering, Inc. and Leroy's Horse and Sports Place. The only issue on appeal is whether the claim against the bankrupt corporation by Michael Racusin, a former business consultant to debtors, should be regarded as the debt of a creditor, or as a suit by a shareholder subject to subordination pursuant to 11 U.S.C. §...

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