|IN RE: CONCO, INC.,
TOM HARPER; SANDRA KRUMMA; PEGGY SUE LEAKE;
SAMUEL ZANE LEAKE; JON SOUDER; CONCO
ACQUIREMENT, LLC; DELFASCO LLC,
THE OVERSIGHT COMMITTEE; CONCO, INC.,
| No. 16-6166|
Appeal from the United States District Court
for the Western District of Kentucky at Louisville.
No. 3:16-cv-00125—Joseph H. McKinley Jr., Chief District Judge.
United States Bankruptcy Court for the
Western District of Kentucky at Louisville
No. 12-34933(1)(11)—Joan A. Lloyd, Judge.
Argued: March 8, 2017
Decided and Filed: April 28, 2017
Before: DAUGHTREY, SUTTON, and DONALD, Circuit Judges.
BERNICE BOUIE DONALD, Circuit Judge. This matter is before the court on appeal
from a February 18, 2016 Memorandum Opinion and Order (the “February 18, 2016 Decision)
of the United States Bankruptcy Court for the Western District of Kentucky (“Bankruptcy
Court”) in the Chapter 11 bankruptcy case In re Conco, Inc., No. 12-34933-jal (Bankr. W.D.
Ky.). In that opinion and order, the Bankruptcy Court interpreted Conco Inc.’s Confirmed Plan
to prohibit the sale of the ESOP-held Conco stock (the “Equity Security Interests” in the Debtor)
from being sold or transferred through December 31, 2018, and enjoined any such sale until that
time. The United States District Court for the Western District of Kentucky (“District Court”)
affirmed, finding that the Bankruptcy Court properly found that the Confirmed Plan prohibited
the sale of the Equity Security Interests through December 31, 2018, and the Disclosure
Statement containing identical language was adequate. Since the proper standard of review is
abuse of discretion, and the Bankruptcy Court did not abuse its discretion, we AFFIRM the
Bankruptcy Court’s opinion and order.