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IN RE ECS REFINING, INC.

Case No. 18-22453-A-7. Adv. No. 20-02093-A.

625 B.R. 425 (2020)

IN RE: ECS REFINING, INC., Debtor. Kimberly J. Husted, Plaintiff, v. Kenneth Taggart et al., Defendants.

United States Bankruptcy Court, E.D. California.

Signed December 15, 2020.

Attorney(s) appearing for the Case

Christopher D. Sullivan, Roxanne Bahadurji, and Quentin Roberts, Diamond McCarthy LLP, for Kimberly J. Husted, Chapter 7 trustee; Howard M. Privette and Kay S. Kress, Troutman Pepper Hamilton Sanders LLP for Kenneth Taggart, James Taggart and Jack Rockwood; Jamie P. Dreher and Joseph K. Little, Downey Brand LLP for Sinclair Partners LLC, ECS Big Town LLC, and All Metals, Inc.

MEMORANDUM

Directors of insolvent corporations owe fiduciary duties to creditors. ECS Refining, Inc., was insolvent. It owed Summit-Bridge a $26 million secured debt. When SummitBridge refused to restructure its debt, ECS Refining's directors...

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