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IN RE ARCTIC GLACIER INTERNATIONAL, INC.

No. 17-2522.

901 F.3d 162 (2018)

IN RE: ARCTIC GLACIER INTERNATIONAL, INC., et al. Debtors in a Foreign Proceeding. Eldar Brodski Zardinovsky, a/k/a Eldar Brodski, a/k/a Eldar Brodski (Zardinovsky); EB Books, Inc; EB Design, Inc; EB Online, Inc; EB Imports, Inc; Lazdar, Inc; Eldar Brodski, Inc; Y Capital Advisors, Inc; Valley West Realty Inc; Ruben Brodski; Ruben Brodski, Inc; Ester Brodski; Yehonathan Brodski, Appellants v. Arctic Glacier Income Fund; James E. Clark; Gary A. Filmon; David R. Swaine; Hugh A. Adams.

United States Court of Appeals, Third Circuit.

Filed: August 20, 2018.

Attorney(s) appearing for the Case

David B. Gordon, Esq. [ARGUED], Mitchell Silberberg & Knupp, 437 Madison Avenue, 25th Floor, New York, NY 10022, Counsel for Appellants.

Autumn H. Patterson, Esq. , Mark W. Rasmussen, Esq. [ARGUED], David R. Woodcock, Esq. , Jones Day, 2727 North Harwood Street, Dallas, TX 75201, Marcos A. Ramos, Esq. , Brendan J. Schlauch, Esq. , Richards Layton & Finger, 920 North King Street, One Rodney Square, Wilmington, DE 19801, Counsel for Appellees.

Before: SMITH, Chief Judge, and HARDIMAN and BIBAS, Circuit Judges.

OPINION OF THE COURT

Buying shares in a bankrupt company can be perilous business. Here, shareholders were on notice of Arctic Glacier's bankruptcy proceedings, were represented throughout those proceedings, and voted overwhelmingly to confirm the company's reorganization Plan. So their shares were subject to its...

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