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Creditor Committee Formation Questionnaire Department of

Creditor Committee Formation Questionnaire Department of

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[Music] case briefs and so much more LS status got what you're looking for in 1996 the United States court of appeals for the third circuit heard the case of melon Bank n a verse official Committee of unsecured creditors of rml Inc in re-rml Inc the case revolved around the issue of whether inter-shoe a Wholesale Distributor of women's shoes received reasonably equivalent value for 515 000 in commitment fees paid to Mellon Bank for a 53 million loan commitment the court applied a totality of the circumstances test to determine the value ultimately finding that interview did not receive fair compensation and was insolvent during the relevant period as a result Mellon Bank was ordered to pay back all but 127 538 dollars four cents of the fees representing out-of-pocket expenses on appeal the court affirmed the bankruptcy Court's determination that inter shoe did not receive reasonably equivalent value for the commitment fees and was in Saw relevant at the time of

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