Law360, New York ( October 13, 2015, 12:48 PM EDT) -- In In re Optim Energy LLC et al.,[1] the Optim debtors' single largest unsecured creditor brought a motion for derivative standing to sue ECJV Holdings Inc., its 100 percent equity owner, and ECJV's parent, Cascade Investments LLC,[2] for breach of fiduciary duty and recharacerization or equitable subordination of their secured claims arising from their guarantee of a loan made by Wells Fargo Bank NA to Optim. The decision of the U.S. Bankruptcy Court for the District of Delaware denying the standing motion for failure of the creditor to state a "colorable claim,"[3] and the affirmance of the decision by the U.S. District Court for the District of Delaware on appeal, provide an important and instructive precedent for any equity investor who guarantees an affiliate's credit facility debt and later faces a challenge of its resulting secured claims in the bankruptcy case of its affiliate....