CHS, Inc v Plaquemines Holdings, L.L.C.

Citation:
5th Cir. Court of Appeals (Case No. 13-30028)
Tag(s):
Ruling:
AFFIRMING the District Court's in favor of Defendant-Appellee Plaquemines Holdings.
Procedural context:
Appeal from the United States District Court for the Eastern District of Louisiana which granted Defendant-Appellee's motion to dismiss, holding that the law at issue did not apply to judicial sales.
Facts:
Plaintiff-Appellant, CHS Inc., and non-party South Louisiana Ethanol, L.L.C., each owned 50% in a company whose sole asset was a tract of land. South Louisiana Ethanol, L.L.C. filed for bankruptcy under Chapter 11 of the Bankruptcy Code, and, as apart of the confirmed liquidation plan, the bankruptcy court ordered South Louisiana Ethanol to dissolve the company held jointly with CHS and to partition the tract of land. South Lousiana Ethanol sold to a third party an option to purchase all the rights, title and interest from the dissolution of the shared company. The third party assigned those rights under an option contract ot the Defendant-Appellee Plaquemines Holdings, L.L.C. As a result, CHS filed a suit contending that South Louisiana Ethanal option contract was an assignment of a litigious right under Louisiana law and is entitled to reimbursement and interest.
Judge(s):
Stewart, King and Prado.

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