In re Greenpoint Tactical Income Fund, LLC

In a bankruptcy case, the Seventh Circuit considered whether the company that filed for bankruptcy was responsible for unpaid legal fees incurred by one of two limited liability companies that served as managing members of the bankrupt company. The bankruptcy and district courts granted and affirmed summary judgment that objected to the law firm’s claim. The Seventh Circuit affirmed, rejecting the law firm’s arguments premised on an oral contract outside the scope of the statute of frauds, promissory estoppel, and statutory and contractual indemnification rights. (KIRSCH and JACKSON-AKIWUMI, concurring)