TMT Procurement Corp. v. Vantage Drilling Co. (In Re TMT Procurement Corp.)

How courts have described this case

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

• concluding that a common owner between a party to the litigation and the debtors is not sufficient to establish “related to” jurisdiction
• rejecting the debtor’s argument that shares of stock it had been allowed to use to establish adequate collateral were “property of the estate,” when the debtor had neither the right to control or retain those shares
• declining, in the bankruptcy context, to find that a DIP lender acted in good faith when it was aware that a DIP creditor had an insider relationship with the debtor and that an unrelated third party had an adverse claim to the debtor's assets
• “[U]nder either standard of review, we find that the determination of good faith does not pass muster.”
• “A failure to obtain a stay of an authorization under [§ 364(e)] moots an appeal of that authorization[.]”
• “[F]unds held in escrow are ‘property of the estate’ only to the extent of the debtor’s independent right to that property”

Source: CourtListener parenthetical corpus (CC0).