Free Amended Document - District Court of Delaware - Delaware

Case 1 :07-cv-00345-JJF Document 31 Filed 06/19/2008 Page 1 of 3
_ UNITED STATES DISTRICT COURT
‘ FOR THE DISTRICT OF DELAWARE
)
In re: )
)
PLASSEIN INTERNATIONAL ) CHAPTER 7
CORP., et aZ.‘(n/k/a PL Liquidation Corp.), )
V ) Bankr. Case No. 03-11489-KG
Debtorsl ) J ointly Administered
)
) Adversary Proceeding No.
) 05-50692-KG
WILLIAM BRANDT, as he is ) I
the Trustee of the Estate of )
Plassein International Corp., et al. , )
; )
Appellant, )
_ )
v. )
4 ) Civil Action No. 07-345-JJF
B.A. Capital Co. LP, )
The Andrew Marshall Forsberg Trust, )
Ethel Forsberg Revocable Trust, )
Janis Rae Forsberg Trust, ) .
Frank John McCarthy, Daniel R. Orris, )
Bernadine Orris, Charles J. Warr, )
Paul D. Gage, Stephen S. Wilson, )
G. Kenneth Pope, Jr., Kenneth Olenler, ) A
Daniel A. Jones, III, Sam Chebeir, )
Thomas F. Ray, Ruth L. Fischbach, )
Mark R. Freedman, Robert N. Zeitlin, )
Sidney Zeitlan, ZFC Associates, Inc., )
William G. Russell, Robert N. Zeitlin 1999 )
Charitable Remainer Unitrust, )
)
Appellees. )

AMENDED STATEMENT OF ISSUES PRESENTED ON APPEAL
I Additional Debtors include all of Plassein International Corpfs wholly—ovvned domestic
subsidiaries: Plassein International of Martin, Inc.; Plassein International of Ontario, LLC;
Plassein International of Salem, Inc.; Plassein International of Spartanburg, Inc.; Plassein
_ International of Thomasville, Inc.; and Teno Films, Inc.

Case 1 :07-cv-00345-JJF Document 31 Filed 06/19/2008 Page 2 of 3
I William Brandt, as Trustee of the Estates of Plassein International Corp., et al., by
and through undersigned counsel, and pursuant to Fed. R. Civ. P. 6(b), hereby states the
_ issues to be presented on appeal, for the appeal filed under 28 U.S.C. § l58(d) of the
order of the Honorable Joseph J. Farnan, Jr. of May 15, 2008 [Dock. No. 25; related
Dock. No. 24]2 affirming the order of the Honorably Kevin Gross entered in the above-
captioned adversary proceeding on April 20, 2007 [D.I. No. 71; related D.I. No. 70].
Statement of Issues Presented on Appeal
` l) Whether the District Court erred in affirming the Bankruptcy Court’s finding that
§ 546(e) of the Bankruptcy code applies tola transaction that does not involve the
sale or transfer of a publicly traded security?
2) Whether the District Court erred in affirming the Bankruptcy Court’s failure to
find that under the plain language of §74l(8) of the Bankruptcy Code, only
settlement payments “comrnonly used in the securities trade," that is, made with
respect to publicly traded securities, fall within the exception provided by §546(e)
of the United States Bankruptcy Code?
3) Whether the District Court erred in affirming the Bankruptcy Court’s finding that
the Complaint failed to state a claim for relief because the transfers alleged were
made by a non—debtor (Plassein Packaging Corp.) where the record clearly
establishes that Plassein Packaging Corp. changed its name to Plassein
International Corp., a debtor, upon the completion of the transaction at issue?
2 "Dock. No." shall refer to the docket on appeal in this matter in the District Court and “D.I. No."
shall refer to the docket in the underlying adversary proceeding in the Bankruptcy Court. P

Case 1 :07-cv-00345-JJF Document 31 Filed 06/19/2008 Page 3 of 3
4) Whether the District Court erred in aftinning the Bankruptcy Court’s holding that
Brandt was required to allege actual intent to V defraud in order to collapse the
transactions constituting a leveraged buyout and thereby state a claim under the
Delaware Fraudulent Transfer Act, 6 Del. C. §§1304 and 1305'?
Dated: June 19, 2008
A I A Wilmington, Delaware
CROSS & SIMON, LLC
By: %`/` 5 ` M/"-_—
A - Christopher P. Simon (No. 3697) ·
Kevin S. Mann (No. 4576) A
913 North Market Street, llth Floor
P.O. Box 1380
Wilmington, DE 19899-1380
(302) 777-4200
.. and ..
Charles R. Bennett, Jr. (BBO #037380)
HANIFY & KING, P.C.
~ _ One Beacon Street
Boston, MA 02108
(617) 423-0400
Attorneys for William Brandt as he
is Trustee ofthe Chapter 7 Estates of
PL Liquidation Corp., ]7k/a Plassein
International Corp., et al. ·

Case 1:07-cv-00345-JJF Document 31-2 Filed 06/19/2008 Page 1 of 1
l CERTIFICATE OF SERVICE q
I, Kevin S. Mann, Esquire do hereby certify that on this 19th day of June, 2008, I caused
copies of the Amended Statement of Issues Presented on Appeal to be served upon the parties
listed below as indicated: 9
VIA FIRST CLASS MAIL VIA HAND DELIVERY
Karen E. Wagner Robert J. Stearn Jr.
Elliot Moskowitz Richard Layton & Finger, P.A.
Davis Polk & Wardwell One Rodney Square
450 Lexington Avenue 920»North King Street
NY, NY 10017 Wilmington, DE 19801
James A. Sarna, Esquire Laurie Polleck
Sarna & Associates, PC J aspan Schleslinger Hoffman LLP
99 Main Street 913 North Market Street,
Nyack, NY 10960 12th Floor
Wilmington, DE 19801
Richard A. Johnston, Esq.
Mark A. Fleming, Esq. Ricardo Palacio, Esq.
Wilmer Cutler Pickering Hale Dorr LLP Ashby & Geddes, P.A.
60 State Street 500 Delaware Avenue
Boston, Massachusetts 02109 Wilmington, DE 19801 .
Laurie Selber Silverstein, Esq.
Potter Anderson & Corroon LLP
13 13 N. Market Street
Hercules Plaza, 6th Floor
Wilmington DE 19801
5 . M/——··
Kevin S. Mann (DE Bar No. 4576)