Mealey's (June 12, 2018, 4:58 PM EDT) -- NEW ORLEANS — The Fifth Circuit U.S. Court of Appeals on May 22 held that federal law does not prevent a bona fide shareholder from exercising its right to vote against a franchise’s bankruptcy petition just because the shareholder is also an unsecured creditor, finding that the issue of corporate authority to file a bankruptcy petition is left to state law and nothing there would nullify the shareholder’s right to vote against the bankruptcy petition (In Re: Franchise Services of North America, Incorporated v. United States Trustee, et al., No. 18-60093, 5th Cir., 2018 U.S. App. LEXIS 13332)....