Village of New Lenox v. Union National Bank & Trust Co.

recognizing that claims against officers, directors, and shareholders are claims of the bankruptcy estate | recognizing that claims against officers, directors, and shareholders are claims of the bankruptcy estate | holding that failure of Congress to adopt bill overruling Caplin "does not affect a trustee's right to bring a general action on behalf of all creditors rather than a personal one on behalf of only some" | holding that failure of Congress to adopt bill overruling Caplin “does not affect a trustee’s right to bring a general action on behalf of all creditors rather than a personal one on behalf of only some” | noting that the test has been adopted by many courts as the standard formulation | noting that courts have “regularly applied” Section 541 to include property fraudulently or improperly transferred by the debtor prior to bankruptcy | noting that the test has been adopted by many courts as the standard formulation | "Once the bankruptcy petition has been filed, property rights belonging to the debtor under state law become assets of the estate." | “Once the bankruptcy petition has been filed, property rights belonging to the debtor under state law become assets of the estate.” | the trustee in bankruptcy acts as representative of all the unsecured creditors | applying both Illinois and Indiana law | applying standing requirement to bankruptcy appeal | applying both Illinois and Indiana law