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AMERICAN TISSUE, INC. v. ARTHUR ANDERSEN, L.L.P.

No. 02 Civ. 7751(SAS).

275 F.Supp.2d 398 (2003)

AMERICAN TISSUE, INC., a Chapter 11 bankruptcy debtor-in-possession Plaintiff, v. ARTHUR ANDERSEN, L.L.P., Defendant.

United States District Court, S.D. New York.

May 5, 2003.

Attorney(s) appearing for the Case

Charles H. Lichtman, Berger Singerman P.A., Fort Lauderdale, FL, Susan G. Rosenthal, Brown Raysman Millstein Felder & Steiner LLP, New York, NY, for Plaintiff.

John A. Brock, Michael R. Bromwich, Tommy P. Beaudreau, Fried, Frank, Harris, Shriver & Jacobson, New York, NY, for Defendant.

OPINION AND ORDER

SCHEINDLIN, District Judge.

American Tissue, Inc. ("ATI"), a Chapter 11 bankruptcy debtor-in-possession, is suing Arthur Andersen, L.L.P. ("Andersen") for its allegedly negligent certification of certain ATI financial (mis)statements. Because the false financials were the work of ATI's sole shareholders, ATI lacks standing to bring these claims, which rightly accrue to ATI's creditors. The case is therefore dismissed for want of...

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