DISCLAIMER: Any unofficial case summaries below are prepared by the clerk's office
as a courtesy to the reader. They are not part of the opinion of the court.
181134P.pdf 12/28/2018 David Oetting v. David Sosne
U.S. Court of Appeals Case No: 18-1134
U.S. District Court for the Eastern District of Missouri - St. Louis
[PUBLISHED] [Loken, Author, with Benton and Shepherd, Circuit Judges]
Civil case - Multi-district Litigation in In Re BankAmerica Corp. Sec.
Litig. For related litigation, see Oetting v. Norton, 795 F.3d 886 (8th
Cir. 2015). In appeal by a class representative regarding the dismissal of
an unsecured creditor claim and amended claim he filed in the pending
Chapter 7 bankruptcy proceedings of the lead class counsel, a claim for
unreturned cy pres distribution was no longer in issue; a claim that the
firm had negligently supervised the fund distribution was time-barred; the
bankruptcy court erred in concluding that a claim for disgorgement was
barred by Missouri's five-year statute of limitations; however, the
bankruptcy court did not err in disallowing this claim because no
disgorgement had been ordered in the MDL action and therefore the
bankruptcy claim is premature and lacks supporting foundation; to assure a
prompt resolution of the case and compliance with the court's mandate in
In Re BankAmerica Corp. Sec. Litig. 775 F.3d 1060 (8th Cir. 2105), the
bankruptcy court is directed to take certain actions; reversed and
remanded to the district court with instructions to remand to the
bankruptcy court for further proceedings.