NEW ORLEANS — A federal appeals court ordered today that the billionaire Hunt brothers of Texas transfer their bankruptcy proceedings from New Orleans to Dallas.
"This court orders immediate transfer of the Chapter 11 proceedings to the Bankruptcy Court for the Northern District of Texas with instructions to proceed in exactly the same manner as if the Chapter 11 proceedings had been initially filed in that jurisdiction. . . , " the 5th U.S. Circuit Court of Appeals ruled after a hearing. A lawyer for the Hunts had argued that they should be allowed to hash out their financial problems in Louisiana because that is home for their Placid Oil Co.