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IN RE 15375 MEMORIAL CORP. v. BEPCO, L.P.

Nos. 09-1391, 09-1432, 09-1608.

589 F.3d 605 (2009)

In re 15375 MEMORIAL CORPORATION, et al., Santa Fe Minerals, Inc., Debtors/Appellants in 09-1391, Cross-Appellees in 09-1432, Cross-Appellees in 09-1608 v. BEPCO, L.P., f/k/a Bass Enterprises Production Company, Appellee in 09-1391, Intervenor/Cross-Appellee in 09-1432, Intervenor/Appellant in 09-1608 Global Santa Fe Corporation; Global Santa Fe Corporation Services, Inc.; Entities Holdings, Inc., Intervenors/Appellees in 09-1391, Intervenors/Appellants in 09-1432, Intervenors/Appellees in 09-1608.

United States Court of Appeals, Third Circuit.

Filed: December 22, 2009.

Attorney(s) appearing for the Case

John D. Demmy (Argued) Stevens & Lee, Wilmington, DE, for 15375 Memorial Corp. and Santa Fe Minerals, Inc.

Gregory W. Werkheiser (Argued) Morris, Nichols, Arsht & Tunnell, Wilmington, DE, for BEPCO L.P., f/k/a Bass Enterprises Production Co.

Philip G. Eisenberg (Argued) Locke Lord Bissell & Liddell, Houston, TX, Kevin J. Mangan, Francis A. Monaco, Jr., Womble, Carlyle, Sandridge & Rice, Wilmington, DE, for Global Santa Fe Corp., Global Santa Fe Corporate Services Inc., and Entities Holdings, Inc.

Before: SLOVITER, FUENTES, and SMITH, Circuit Judges.

OPINION

SMITH, Circuit Judge.

This appeal asks us to determine whether Chapter 11 bankruptcy petitions filed by Santa Fe Minerals, Inc. and 15375 Memorial Corporation (together, the "Debtors") were filed in good faith. There is ample evidence to support the finding of the District Court that the Debtors' bankruptcy petitions served no valid bankruptcy purpose and were used primarily as a litigation tactic to protect...

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