Anstine v. Carl Zeiss Meditec AG (In Re U.S. Medical, Inc.)

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that the creditor, despite having a 10.6% interest in the debtor and having the ability to appoint a member to the debtors’ board, was not an insider of the debtor because it had not exercised the required control and undue influence over the debtor
• determining insider status at time of transaction for purposes of avoiding transaction under § 547(b)(4)(B)
• characterizing insider status as a mixed question where “the facts are undisputed and the issue revolves around the legal conclusion drawn from the facts against the backdrop of a statute”
• “[W]e were of the understanding that — that Highland could do the deal. It wouldn’t be a problem. And if they needed assistance, they’d go and find the assistance.”
• \A finding of actual control by the bankruptcy court would make Creditor a statutory insider and would avoid the question of whether it was a non-statutory insider altogether\
• \We hold here that a creditor may only be a non-statutory insider of a debtor when the creditor's transaction of business with the debtor is not at arm's length.\

Source: CourtListener parenthetical corpus (CC0).