Two people JK and MT were involved in a case in a Texas state court. Both of them alleged each other for fraud and misconduct to obtain the control of the company C. The person JK formed a company KR whose most of the shareholders were that of the company C. Meanwhile, he filed a petition for Chapter 7 liquidation in the bankruptcy court and failed to inform the court about his interest in the company KR. Though the person JK’s share belonging to that of the company C was passed to the bankruptcy trustee, he called a meeting of the shareholders of the company C in which the person MT was not included and voted those shares for removing the person MT from the board. The company C board then dismissed the company C’s claims against the person JK in the case with the person MT. To find: The sufficient grounds for the bankruptcy court to dismiss the person JK’s bankruptcy petition.

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Answer 1

Question

Chapter 15, Problem 8BCP

Summary Introduction

Case summary: Two people JK and MT were involved in a case in a Texas state court. Both of them alleged each other for fraud and misconduct to obtain the control of the company C. The person JK formed a company KR whose most of the shareholders were that of the company C. Meanwhile, he filed a petition for Chapter 7 liquidation in the bankruptcy court and failed to inform the court about his interest in the company KR. Though the person JK’s share belonging to that of the company C was passed to the bankruptcy trustee, he called a meeting of the shareholders of the company C in which the person MT was not included and voted those shares for removing the person MT from the board. The company C board then dismissed the company C’s claims against the person JK in the case with the person MT.

To find:The sufficient grounds for the bankruptcy court to dismiss the person JK’s bankruptcy petition.

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Answer 2

Question

Chapter 15, Problem 8BCP

Summary Introduction

Case summary: Two people JK and MT were involved in a case in a Texas state court. Both of them alleged each other for fraud and misconduct to obtain the control of the company C. The person JK formed a company KR whose most of the shareholders were that of the company C. Meanwhile, he filed a petition for Chapter 7 liquidation in the bankruptcy court and failed to inform the court about his interest in the company KR. Though the person JK’s share belonging to that of the company C was passed to the bankruptcy trustee, he called a meeting of the shareholders of the company C in which the person MT was not included and voted those shares for removing the person MT from the board. The company C board then dismissed the company C’s claims against the person JK in the case with the person MT.

To find:The sufficient grounds for the bankruptcy court to dismiss the person JK’s bankruptcy petition.

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Answer 3

Question

Chapter 15, Problem 8BCP

Summary Introduction

Case summary: Two people JK and MT were involved in a case in a Texas state court. Both of them alleged each other for fraud and misconduct to obtain the control of the company C. The person JK formed a company KR whose most of the shareholders were that of the company C. Meanwhile, he filed a petition for Chapter 7 liquidation in the bankruptcy court and failed to inform the court about his interest in the company KR. Though the person JK’s share belonging to that of the company C was passed to the bankruptcy trustee, he called a meeting of the shareholders of the company C in which the person MT was not included and voted those shares for removing the person MT from the board. The company C board then dismissed the company C’s claims against the person JK in the case with the person MT.

To find:The sufficient grounds for the bankruptcy court to dismiss the person JK’s bankruptcy petition.

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Answer 4

Question

Chapter 15, Problem 8BCP

Summary Introduction

Case summary: Two people JK and MT were involved in a case in a Texas state court. Both of them alleged each other for fraud and misconduct to obtain the control of the company C. The person JK formed a company KR whose most of the shareholders were that of the company C. Meanwhile, he filed a petition for Chapter 7 liquidation in the bankruptcy court and failed to inform the court about his interest in the company KR. Though the person JK’s share belonging to that of the company C was passed to the bankruptcy trustee, he called a meeting of the shareholders of the company C in which the person MT was not included and voted those shares for removing the person MT from the board. The company C board then dismissed the company C’s claims against the person JK in the case with the person MT.

To find:The sufficient grounds for the bankruptcy court to dismiss the person JK’s bankruptcy petition.

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Answer 5

Chapter 15, Problem 8BCP

Summary Introduction

Case summary: Two people JK and MT were involved in a case in a Texas state court. Both of them alleged each other for fraud and misconduct to obtain the control of the company C. The person JK formed a company KR whose most of the shareholders were that of the company C. Meanwhile, he filed a petition for Chapter 7 liquidation in the bankruptcy court and failed to inform the court about his interest in the company KR. Though the person JK’s share belonging to that of the company C was passed to the bankruptcy trustee, he called a meeting of the shareholders of the company C in which the person MT was not included and voted those shares for removing the person MT from the board. The company C board then dismissed the company C’s claims against the person JK in the case with the person MT.

To find:The sufficient grounds for the bankruptcy court to dismiss the person JK’s bankruptcy petition.

Answer 6

Chapter 15, Problem 8BCP

Summary Introduction

Case summary: Two people JK and MT were involved in a case in a Texas state court. Both of them alleged each other for fraud and misconduct to obtain the control of the company C. The person JK formed a company KR whose most of the shareholders were that of the company C. Meanwhile, he filed a petition for Chapter 7 liquidation in the bankruptcy court and failed to inform the court about his interest in the company KR. Though the person JK’s share belonging to that of the company C was passed to the bankruptcy trustee, he called a meeting of the shareholders of the company C in which the person MT was not included and voted those shares for removing the person MT from the board. The company C board then dismissed the company C’s claims against the person JK in the case with the person MT.

To find:The sufficient grounds for the bankruptcy court to dismiss the person JK’s bankruptcy petition.

Answer 7

Chapter 15, Problem 8BCP

Summary Introduction

Case summary: Two people JK and MT were involved in a case in a Texas state court. Both of them alleged each other for fraud and misconduct to obtain the control of the company C. The person JK formed a company KR whose most of the shareholders were that of the company C. Meanwhile, he filed a petition for Chapter 7 liquidation in the bankruptcy court and failed to inform the court about his interest in the company KR. Though the person JK’s share belonging to that of the company C was passed to the bankruptcy trustee, he called a meeting of the shareholders of the company C in which the person MT was not included and voted those shares for removing the person MT from the board. The company C board then dismissed the company C’s claims against the person JK in the case with the person MT.

To find:The sufficient grounds for the bankruptcy court to dismiss the person JK’s bankruptcy petition.

Answer 8

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Answer 11

Ch. 15 - Prob. 1RE Ch. 15 - Prob. 2RE Ch. 15 - Prob. 3RE Ch. 15 - Prob. 4RE Ch. 15 - Prob. 1IS Ch. 15 - Prob. 2IS Ch. 15 - Prob. 1BS Ch. 15 - Prob. 2BS Ch. 15 - Prob. 3BCP Ch. 15 - Prob. 4BCP

Solution Summary: The author explains that the bankruptcy court dismisses the petition of the person JK on the basis of bad faith conduct.

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Chapter 15 Solutions