Examples of Standing Motion in a sentence
In the proposed complaint attached to the Standing Motion, the Creditors’ Committee asserted 21 separate claims for fraudulent transfer, avoidable preference, equitable subordination, avoidance of liens, breach of fiduciary duty and breach of contract, as well as tort and mismanagement claims arising under Luxembourg law, against certain of the prepetition secured lenders, shareholders, and officers and directors of LyondellBasell involved in the 2007 Merger.
Biscoe, JudgeRESULT: FRIENDLY AMENDMENT ACCEPTED Clerk’s Note: A Vote on the Standing Motion was taken.
Pursuant to Bankruptcy Code section 1123 and Bankruptcy Rule 9019, the Plan incorporates a compromise and settlement of various potential Claims and Causes of Action, including those for which the Committee sought standing to bring pursuant to the Standing Motion.
Within three (3) business days after the Effective Date, the Committee shall file a notice of withdrawal of the Standing Motion.
To the extent there is any successful challenge to the Litigation Trustee’s right to take such actions, then the Committee shall have the right to appeal or prosecute the appeal of any order on the Standing Motion notwithstanding Article XII.D of the Plan.