IN RE IFS FINANCIAL CORPORATION

Case Nos. 02-39553, 04-34514, 04-34515, 04-34516, 04-34517, 04-34519, 04-34520, 04-34521, 04-34523, 04-34525, 04-34526, 04-34529, 04-34530, Jointly Administered Order

IN RE: IFS FINANCIAL CORPORATION, Chapter 7 CIRCLE INVESTORS, INC. COMSTAR MORTGAGE CORPORATION IFS INSURANCE HOLDINGS CORPORATION INTERSTAR INVESTMENT CORP. INTERAMERICAS, LTD. INTERAMERICAS INVESTMENTS LTD. INTERAMERICAS HOLDINGS, INC. INTERAMERICAS FINANCIAL HOLDINGS CORP. AMPER INTERNATIONAL, LTD. AMPER, LTD. ORBOST, LTD. MP CORP. Debtor(s).

United States Bankruptcy Court, S.D. Texas, Houston Division.

May 13, 2013.


MEMORANDUM OPINION

MARVIN ISGUR, Bankruptcy Judge.

The Court examines whether W. Steve Smith, a chapter 7 trustee with a long history of distinguished service, must be removed pursuant to 11 U.S.C. § 324. Because Smith willfully breached his fiduciary duty to the Estate, the Court concludes that he should be removed as a trustee in this case. Because no valid basis exists for an exception to the statutory mandate of § 324(b), the Court recognizes...

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