In Re: Yu Hua Long Investments, LLC
Opinion
Trial Court Opinion
I. INTRODUCTION
This appeal arises out of a bankruptcy court’s order reducing claimant Teng Huang’s (“Appellant”) claim by $29,880,000. Debtor filed a Chapter 11 bankruptcy case on September 26, 2016. Appellant filed four proofs of claim, only one of which—Claim No. 15—1s at issue in this appeal. Claim No. 15 totals $49,565,920.08. Several other claimants in the bankruptcy case (““Appellees” here) filed a motion to reduce Claim No. 15. After two hearings on December 15, 2020 and August 5, 2021, the bankruptcy court: (1) reduced Claim No. 15 by $1.9 million because it was duplicative of Appellant’s Claim No. 17; and (2) then reduced Claim No. 15 by an additional $29,880,000 because it found Debtor was not unjustly enriched by Appellant in that amount. Appellant filed a Notice of Appeal on September 1, 2021, and Appellees elected to have the appeal heard by this Court on September 28, 2021. For the following reasons, the Court AFFIRMS the bankruptcy court’s order.
II. JURISDICTION
The Court has jurisdiction over this Appeal pursuant to 28 U.S.C. § 158(a). lil. FACTUAL BACKGROUND The following facts are based on the record on appeal.