Wachovia Securities, LLC v. Loop Corporation

Appellant (unsecured creditor of debtor company that was also controlled by creditor) lacked standing to appeal Dist. Ct. order that granted motion by another creditor to have debtor turn over stock to be sold to satisfy creditor’s lien, as well as award of attorney fees and costs to third creditor, which also sought portion of proceeds of stock sale to satisfy its lien, since said Dist. Ct. orders applied to debtor, as opposed to appellant. Fact that motion to pierce corporate veil of debtor was granted so as to make appellant responsible for other creditors' liens did not confer standing on appellant in instant appeal since corporate veil cannot be pierced for benefit of corporation or its stockholders. Ct. of Appeals also awarded fees to other creditors, after finding that instant appeal was frivolous.