In re Icarus Holdings (01-55662, Adv. Nos. 02-05081, 02-05069)

The court found that under Georgia law, a corporation may seek to pierce its own corporate veil. Thus, in a Chapter 11 case, a veil piercing alter ego action is property of the estate and may only be brought by the trustee unless abandoned. Any alter ego suits brought by individual creditors are subject to the automatic stay.

Tuesday, October 1, 2002