[DO NOT PUBLISH]
IN THE UNITED STATES COURT OF APPEALS
FOR THE ELEVENTH CIRCUIT
________________________ FILED
U.S. COURT OF APPEALS
ELEVENTH CIRCUIT
No. 06-13701 January 4, 2007
Non-Argument Calendar THOMAS K. KAHN
________________________ CLERK
D.C. Docket Nos.
06-00134-CV-T-30MSS
03-BK-23102-ALP
IN RE: AMERICAN EQUITY CORPORATION OF PINELLAS,
Debtor.
____________________________________________________
ESTHER GLAUSER,
PAUL C. ASTOR,
Executor of the Estate of Julius Glauser,
JULIUS GLAUSER, IRA,
Plaintiffs-Appellants,
versus
V. JOHN BROOK,
Trustee,
Defendant-Appellee.
________________________
Appeal from the United States District Court
for the Middle District of Florida
________________________
(January 4, 2007)
Before BLACK, MARCUS and COX, Circuit Judges.
PER CURIAM:
Appellants Esther Glauser, Paul C. Astor, Executor of the estate of Julius
Glauser, and the Julius Glauser IRA (collectively, “the Glausers”) seek reversal of
the district court’s affirmance of an order of the bankruptcy court approving a
compromise in two adversarial proceedings initiated by the Chapter 7 Trustee of
the Estate of American Equity Corporation of Pinellas (“the Debtor”) against
Ronald Clampitt, Gina Clampitt, and others. The compromise was made between
the Trustee, Ronald Clampitt (who is the sole shareholder of the Debtor) and Gina
Clampitt (Ronald Clampitt’s wife). The Glausers are creditors of the Debtor.
Having thoroughly reviewed the briefs and the record on appeal, we hold
that the district court erred in affirming the bankruptcy court because the
bankruptcy court abused its discretion in approving the compromise. The record
is not sufficiently developed to support a finding that the compromise is in the best
interest of the estate.
2
Therefore, we reverse the district court’s order affirming the order of the
bankruptcy court. We instruct the district court to vacate the order of the
bankruptcy court and to remand to the bankruptcy court for further proceedings.
REVERSED.1
1
Appellee's motion for damages and costs is DENIED.
3