(DOWNLOAD) "In Re Larbar Corp." by Sixth Circuit U.S. Court of Appeals * Book PDF Kindle ePub Free
eBook details
- Title: In Re Larbar Corp.
- Author : Sixth Circuit U.S. Court of Appeals
- Release Date : January 20, 1999
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 59 KB
Description
This case involves the resolution of bankruptcy claims between Larbar Corporation, a highway contractor, and Kentucky Central Insurance Company (KCIC), its surety. In June of 1994, the trustee of Larbars bankruptcy estate filed suit seeking to avoid the late-filed security interest created by a 1989 Agreement of Indemnity between Larbar and KCIC. In response, KCIC claimed that (1) its security interest is not avoidable, (2) even if its security interest is avoidable, KCIC is nevertheless entitled to the receivables due Larbar under either the doctrine of equitable subrogation or a trust fund theory, and (3) it has the right to setoff the net profits it made on some of Larbars highway projects against the net losses it incurred on others.