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Burtch v. Opus LLC, 9/28/17
November 5, 2017

The bankruptcy court properly determined that the company was solvent through February 1, 2009, and that the officer did not breach his fiduciary duty with respect to the transfer of assets because the trustee failed to show clear error in the balance sheet insolvency analysis. The transaction was entirely fair as the officer did not intentionally or consciously disregard his duty to the company and believed the transaction to be in the company’s best interests. The lower court’s judgment was affirmed.