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  • Trustee seizes company interest under contract due to flawed documents


    Trustee seizes company interest under contract due to flawed documents

    In re Flint, C/A No. 21-00702-hb, slip op. (Bankr. D.S.C. May 5, 2022) In this case, the purchaser of a business owned by the Debtor tries to move forward as secured by an interest in the business reflected in a contract for sale. The trustee objects because she claims his interest does not exist due to problems with the business sale paperwork, specifically lacking stock certificates.  The trustee wins and seizes the business interest to liquidate as property of the estate.