Representative Work: Bankruptcy Litigation Involving Electrical Co-Ops
We recovered virtually the entire amount requested in a lawsuit filed on behalf of an Oregon bankruptcy trustee against an Oregon electric cooperative alleging breach of fiduciary duty and breach of bylaws. We argued the bankruptcy trustee had a right, as successor to the debtor-cooperative member's interest, to obtain payment of its capital contributions on an accelerated basis under a bylaw provision permitting distributions upon the "death" of a member. This was a case of first impression in the District of Oregon. We argued on behalf of the trustee that a Chapter 7 corporate debtor is "dead" for purposes of entitlement to distributions upon the death of a member. Based on this result, we have been retained and have successfully negotiated resolutions in two other cooperative cases. A third case is pending.
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