In re Simply Essentials, LLC

3 Citing cases

  1. Teras Breakbulk Ocean Navigation Enters. v. Angueira (In re Teras Breakbulk Ocean Navigation Enters.)

    658 B.R. 611 (S.D. Fla. 2024)

    It's [a] Bankruptcy, Southern District of Ohio, 2021 decision by Judge Hoffman.And then a later case that was issued this year that also went through an analysis and cited with approval the reasoning and conclusion in -- in the Murray Metallurgical case is Bankruptcy Judge Collins' lengthy opinion in In Re: Simply Essential, 640 B.R. 922, Bankruptcy, Northern District of Iowa, 2022. In that case, as well as in Murray, the Court concluded that avoidance actions were property of the estate that could be sold.

  2. King v. Export Dev. Can. (In re Zetta Jet USA, Inc.)

    644 B.R. 12 (Bankr. C.D. Cal. 2022)   Cited 1 times

    Bankruptcy courts have held that causes of action—including those seeking avoidance—are property of the estate. Smith v. Arthur Andersen LLP, 421 F.3d 989, 1002 (9th Cir. 2005) ; Sender v. Simon, 84 F.3d 1299, 1304-05 (10th Cir. 1996) ; In re Simply Essentials, LLC, 640 B.R. 922, 927–29 (Bankr. N.D. Iowa 2022). And, causes of action based on prepetition transfers become property of the estate when a debtor files for bankruptcy.

  3. In re Mercy Hosp.

    Bankruptcy 23-00623 (Bankr. N.D. Iowa Jun. 7, 2024)

    This Court has in similar situations deferred to the business judgment of fiduciaries offering settlements as part of its "totality of the circumstances" analysis. See, e.g., In re Simply Essentials, LLC, 640 B.R. 922 (Bankr. N.D. Iowa 2022), aff'd, 78 F.4th 1006 (8th Cir. 2023)(noting that "[s]ubstantial deference should be given to the [fiduciary's] opinion" when evaluating a settlement); In re Hildreth, No. BR 09-00293, 2012 WL 4520635 (Bankr. N.D. Iowa Oct. 1, 2012)(explaining that "the Court gives weight to [the fiduciary's] opinion"). Under the business judgment rule, the challenging party must establish that the course of action chosen by the fiduciary was outside the parameters of what a rational and reasonably informed businessperson might select.