The appointment of a trustee is proper where two separate corporate entities, formed by the same persons, enter into a lease agreement without the lender’s consent and allow the business to deteriorate, the U.S. District Court for the Northern District of Indiana held Jan. 10 (Kwitchurbeliakin LLC v. LaPorte Savings Bank).
Affirming the decision of the bankruptcy court, Judge Joseph S. Van Bokkelen, found that “it cannot be said that ‘no reasonable person could agree’ with the bankruptcy court decision.”
Lease Agreement Without Lender’s Consent.
On April 27, 2004, Todd Apfel and Luise Marie Lesser formed debtor Kwitchurbeliakin ...
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