Touch america holdings liquidating tr
Brent Williams, Plan Trustee for Touch America Holdings, Inc. Taylor, Joanne Barkell, Patrick Burton, Rosalie Burton, James Dudley, Joseph Martelli, and Lawrence A. The Trustee's Complaint contains eight claims for relief. § 547 from former officers and directors of Touch America, Entech, and/or Montana Power Company (the "Insider Defendants"). 2-3-2009 In re TOUCH AMERICA HOLDINGS, INC., et al., Debtors. 2)(the "Trustee's Complaint") against fourteen defendants in adversary proceeding no, 04-54840. On June 15, 2005, the Plan Trustee filed a First Amended Complaint (docket no. Ward, Polsinelli Shughart PC, Gian Claudio Finizio, Bayard, P. Yoder, Potter Anderson & Corroon LLP, Wilmington, DE, for Plaintiff. Less than 18 months later, on June 19, 2003, Touch America, its wholly-owned subsidiary, Entech, LLC, and their affiliates commenced chapter 11 reorganization cases before this Court. For more than 30 years, Touch America has been developing and manufacturing innovative spa and salon equipment solutions at our North Carolina headquarters.Our humble start came when Robin Zill, a new massage therapist, needed a portable massage table and Stewart Griffith built her one. There has been no substitution of counsel in this Court for the Mc Greevey Shareholders, but the matters sub judice were fully briefed before issuance of the Montana District Court's injunction. In February 2002, Montana Power completed the Restructuring and sold its remaining utility assets to a company known as North Western Corporation.
Touch America manufactures equipment that turns these expectations into a reality. In 1997, Montana Power's board of directors (the "MP Board") decided to refocus the company's business holdings from energy to telecommunications and voted to sell certain assets related to electrical generation. Ill.1991) (When a debtor and its creditors claim interests in property asserted to be part of the estate, the bankruptcy court has core jurisdiction to adjudicate all of those interests); Knopfler v. Mc Greevey, Thomas Taylor, Joanne Barkell, Patrick Burton, Rosalie Burton, James Dudley, Joseph Martelli and Lawrence A. This case has its origins in a Montana corporation known as Montana Power Company ("Montana Power"), a holding company of energy and telecommunications business enterprises. The Trustee objected to the Shareholders' Motion to Dismiss, arguing (among other things) that the Trustee has standing to seek the injunction as the successor holding company to Montana Power and, further, that the Mc Greevey O & D Claim is a derivative claim that cannot be brought by the Mc Greevey Shareholders. On January 30, 2008, the Plan Trustee filed a motion to sever the Injunction Claim from the other seven claims in adversary proceeding 04-54840. Because the Mc Greevey Shareholders have not filed an abstention motion and because I have decided that this proceeding raises core bankruptcy issues, neither mandatory nor permissive abstention under 28 U. On September 21, 2001, a supermajority of Montana Power shareholders approved the Restructuring and the Utility Sale. Various courts have concluded that matters requiring a declaration of whether certain property comes within the definition of "property of the estate" as set forth in Bankruptcy Code § 541 are core proceedings.
The Mc Greevey Shareholders also filed a Motion to Certify Issues to the Montana Supreme Court (the "Motion to Certify Issues")(docket no. The Trustee later filed a motion for summary judgment (the "Trustee's Summary Judgment Motion")(docket no. By Order dated August 26, 2008, the Plan Trustee's motion to sever was granted so that the Trustee could continue to press its claims against the Insider Defendants in adversary proceeding 04-54840, while the Injunction Claim against the Mc Greevey Shareholders could be considered in this separate adversary proceeding. On February 13, 2002, the following events related to the Restructuring occurred: (i) Montana Power became a subsidiary of Touch America, (ii) all former shareholders of Montana Power were issued replacement stock in Touch America, (iii) upon completion of the exchange of the replacement stock in Touch America, Montana Power was merged into MPLLC, with the latter being the surviving entity, (iv) Entech was merged into Entech, LLC, with the latter being the surviving entity, and (v) MPLLC upstreamed its membership interest in Entech, LLC to Touch America. On February 13, 2002, the Touch America Board of Directors (the "Touch America Board") passed a series of resolutions to complete preparations for the Utility Sale, On or about February 15, 2002, the transactions under the UPA were finalized through the sale of the unit interests in MPLLC to Northwestern. By creating products crafted with the best materials, combined with innovative designs, we are able to develop spaces that provide a heightened, touch-inspired experience.