Crest One SpA v. TPG Troy, No. 14-1010 (2d Cir. 2015)
Annotate this CaseThe Creditors filed suit to recover losses incurred when subsidiaries of Hellas defaulted on notes valued at 1.3 billion euros. On appeal, the Creditors challenged the district court's affirmance of the bankruptcy court dismissing the Chapter 7 involuntary bankruptcy petitions filed by the Creditors against the Troy Entities; denying the Creditors’ motion to withdraw the reference to bankruptcy court; and affirming the July 18, 2013 opinion by the same bankruptcy court awarding the Troy Entities $513,427.16 in attorneys’ fees and costs pursuant to 11 U.S.C. 15 303(i)(1). Determining that the court had jurisdiction, the court concluded that the Creditors knowingly and voluntarily consented to the bankruptcy court exercising its jurisdiction to award attorneys' fees and costs; the court rejected the Creditors' arguments challenging the bankruptcy court's conclusion that there is a bona fide dispute requiring dismissal of the involuntary petitions solely for the purpose of deciding whether there was a basis for the award of attorneys’ fees and costs; and the bankruptcy court did not abuse its discretion in awarding fees here. Accordingly, the court affirmed the judgment.
Some case metadata and case summaries were written with the help of AI, which can produce inaccuracies. You should read the full case before relying on it for legal research purposes.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.