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IN RE WILTON ARMETALE, INC.

No. 19-2907.

968 F.3d 273 (2020)

IN RE: WILTON ARMETALE, INC., a/k/a Wapita, Inc., Debtor Artesanias Hacienda Real S.A. DE C.V., Appellant v. North Mill Capital, LLC; Leisawitz Heller.

United States Court of Appeals, Third Circuit.

Filed: August 4, 2020.

Attorney(s) appearing for the Case

Barry L. Goldin [ARGUED], 3744 Barrington Drive, Allentown, PA 18104, Counsel for Appellant.

Sam P. Israel , Timothy L. Foster [ARGUED], Sam P. Israel P.C., 180 Maiden Lane, 6th Floor, New York, NY 10038, Counsel for Appellee North Mill Capital LLC.

Jeffrey B. McCarron [ARGUED], Kathleen M. Carson , Swartz Campbell, One Liberty Place, 38th Floor, 1650 Market Street, Philadelphia, PA 19103, Counsel for Appellee Leisawitz Heller.

Before: McKEE, BIBAS, and COWEN, Circuit Judges

OPINION OF THE COURT

When a company declares bankruptcy, that declaration does not erase a creditor's constitutional standing to sue. As a company nears insolvency, some may plunder the sinking ship. By depleting its remaining assets, they lower the odds that the company will repay its creditors. That risk of loss...

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