In re: Hope 7 Monroe Street Ltd.

Hope 7 entered into bankruptcy in 2009 and RIASO was Hope 7's largest creditor. The bankruptcy court subsequently approved the settlement of Hope 7's fraud-based claims against RIASO, approved RIASO's proof of claim against Hope 7, and directed the payment of funds from Hope 7's estate to RIASO. Hope 7 subsequently found additional evidence relevant to RIASO's alleged fraud and moved for relief of judgment under Rule 60(b) and asked the bankruptcy court to reopen its earlier orders. The court concluded that Hope 7 had not demonstrated that it had standing to challenge the bankruptcy court's settlement order or, with regard to the remaining claims, that the bankruptcy court abused its discretion in denying the Rule 60(b) motion for relief. The district court did not err in affirming the bankruptcy court's decision, and therefore, the court dismissed in part and affirmed in part. View "In re: Hope 7 Monroe Street Ltd." on Justia Law