Friesen v. Seacoast Capital Partners II LP (In re QuVis Inc.)
Feb
18
2011
Ruling
Small business investment company was not an insider so that secured claim could not be subordinated.
Procedural posture
Noteholders filed an adversary proceeding against defendant, a Small Business Investment Company ("SBIC"), seeking an order pursuant to 11 U.S.C.S. § 510(c) to subordinate a claim the SBIC filed against a chapter 11 debtor's bankruptcy estate. The SBIC filed a motion for summary judgment creditor.
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Court
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