3rd Circuit: Claims In KB Toys Bankruptcy Not Allowed Despite 'Good Faith' Deal

3rd Circuit: Claims In KB Toys Bankruptcy Not Allowed Despite 'Good Faith' Deal

PHILADELPHIA - A panel of the Third Circuit U.S. Court of Appeals on Nov. 15 affirmed a bankruptcy court's decision that disallowed the bankruptcy claims asserted by a group that purchased those claims from other creditors, despite the good faith deal the parties allegedly had with each other (In Re: KB Toys Inc., No.13-1197, Chapter 11, 3rd Cir.; 2013 U.S. App. LEXIS 23083).

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