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was arrived at by some manner which was unfair and beyond the normal process contemplated by the legislature, and generally requires an act having some character of fraud or corruption."
b. As for the requirement of exceeding powers of the arbitrator, "'it is presumed that an arbitrator did not exceed his powers,' and 'where an award is challenged as invalid, the challenger has the burden of proving his contention by clear, strong and convincing evidence.'"
Holding: Pope's motion for summary judgment is granted.
Reasoning: Plaintiff failed to show any specific, material facts to defeat summary judgment that show that the Award was procured through undue means or that the arbitrators exceeded their powers. The arbitrators relied on sufficient evidence in making their various awards and the Plaintiffs failed to provide any support for the argument that the Award is reviewable.
Facts: Omega Consulting ("Omega") as assignee of Table Rock Business Services, Inc. ("TR") filed a motion in the bankruptcy court to recover certain unclaimed funds that had been deposited into the registry of the court after the debtor's trustee was unable to distribute the funds (the "Unclaimed Funds") to creditors under the debtor's plan of reorganization. TR was the debtor's sole shareholder. At the hearing, it came out that Omega was really an asset locator that had been hired by TR under an agreement in which Omega was to keep only 40% of the Unclaimed Funds, with the remaining 60% going back to TR. The plan of reorganization had clearly provided that no holders of equity would receive a distribution under the plan.
Issues: "Whether the bankruptcy court erred when it denied Omega's Motion for Payment of Unclaimed Funds pursuant to Sections 347(b) and 1143 of the Bankruptcy Code."
Rules: "A determination of a right of unclaimed funds under Sections 347 and 1143 of the Bankruptcy Code cannot be made without reference to the confirmed plan... [which] controls what if any actions or conditions to participation in plan distributions are required." The claimant has the burden of proof of the right to any unclaimed funds and must establish its right on petition to the court with notice to the U.S. Attorney.
Holding: The bankruptcy court is affirmed - Omega does not have a right to the Unclaimed Funds.
Reasoning: The plan of reorganization provides the court with guidance as to any conditions that had been imposed on participation or distribution of funds. Omega failed to present the plan of reorganization in its motion and therefore failed to make a prima facie case in the first instance. In any event, though, the plan prevents Omega from receiving the Unclaimed Funds since TR, as the sole shareholder of the debtor, is not entitled to receive any money under the plan. Lastly, Omega failed to provide any link its alleged ownership rights to those of the Debtor.
Facts: Prepetition, InPhonic, Inc. ("InPhonic") entered into a corporate barter financing agreement with Icon International, Inc. ("Icon"). InPhonic defaulted on its obligation and, as a result of arbitration, Icon was awarded (the "Award") $4.9 million dollars. In November 2007, InPhonic declared chapter 11 in which Icon filed a proof of claim (the "Claim") for the full amount of the Award. In December 2007, the debtors sold substantially all of their assets and have no business to
