In re Lehman Bros. Holdings
Jul
28
2014
Ruling
Mortgage-backed securities were not "securities of the debtor or an affiliate" and related claim was not subject to subordination.
Issue(s)
Were claims based on mortgage backed securities claims concerning a security "of the debtor or of an affiliate of the debtor," which should be disallowed?
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Court
:
- 11 U.S.C.
In re Optim Energy LLC
May
13
2014
Ruling
Creditor not entitled to derivative standing to pursue claims against subsidiary that held 100 percent of equity interests of chapter 11 debtors.
Issue(s)
Whether creditor of chapter 11 debtors could be granted derivative standing to pursue claims against an entity that, through its subsidiary, indirectly held 100% of the equity interests of each of the debtors, as well as claims against the subsidiary.
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Court
:
- 11 U.S.C.
Redmond v. Cimarron Energy Co. LLC (In re Alternate Fuels Inc.)
Mar
18
2014
Ruling
Decisions for recharacterization of creditor's claim and equitable subordination affirmed.
Issue(s)
Did bankruptcy court err in finding that creditors did not sustain their burden of proof as to the validity and amount of their claims, and that any secured claims they had should be equitably subordinated?
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Court
:
Judge or Jurisdiction information not available
In re Lehman Bros.
Jan
27
2014
Ruling
Claim by prime brokerage customer of debtor subordinated to claim of general unsecured creditors as arising from purchase or sale of securities.
Issue(s)
Should claim of a prime brokerage customer of Lehman Brothers for breach of contract damages due to failure to execute an order for the sale of Lehman Brothers Holding bonds placed days before the Lehman collapse be subordinated to claims of general unsecured creditors.
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Court
:
Pilot v. Alesco Preferred Funding XV Ltd. (In re First Baldwin Bancshares Inc.)
Sep
30
2013
Ruling
Subordination agreement in favor of special purpose entity allowed.
Issue(s)
Was subordination agreement contained in note enforceable in favor of special purpose entity.
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Court
:
LVW Invs. LLC v. Beaufort the Wye LLC (In re UHF Dev. Inc.)
Aug
30
2013
Ruling
Purchaser of lot not entitled to equitable subordination of claim by creditor not obtained by fraud.
Issue(s)
Whether a claimant was entitled to summary judgment on a complaint filed by a purchaser of a lot from the chapter 11 debtor seeking equitable subordination of the claim of the claimant to the claims of all other creditors in the debtor's bankruptcy case pursuant to 11 U.S.C.S. § 510(c).
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Court
:
Gernsbacher v. Campbell (In re Equipment Equity Holdings Inc.)
Apr
12
2013
Ruling
Notes issued by debtor formed to operate seller's business were not subject to equitable subordination in favor of notes issued to seller.
Procedural posture
Plaintiff sellers of businesses to a bankruptcy debtor brought an adversary proceeding against defendant holders of new notes issued by the debtor, seeking a determination that the sellers' notes issued by the debtor had priority over the holders' notes based on equitable subordination of the holders' notes to the sellers' notes or recharacterization of the holders' notes as equity rather than debt.
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Court
:
- 11 U.S.C.
OChesky v. Templeton (In re American Hous. Found.)
Mar
30
2013
Ruling
Transfers to debtor by lawyer were not loans but preferential, avoidable equity investments.
Procedural posture
Trustee filed an adversary complaint against lawyer to avoid $4.746 million in claims asserted by defendant on account of transfer to or for the benefit of debtor that defendant claimed to have been loans that had been guaranteed by debtor. Plaintiff therein asserted, inter alia, that all such guaranties were fraudulent and that any allowed claims were properly subordinated per 11 U.S.C.S. § 510.
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Court
:
- 11 U.S.C.
Gernsbacher v. Campbell (In re Equipment Equity Holdings Inc.)
Mar
29
2013
Ruling
Motion by creditor group to have claims of second creditor group subordinated or recharacterized as equity denied.
Procedural posture
This adversary proceeding involved a dispute within a chapter 7 bankruptcy case between two different, sophisticated creditor groups wherein one creditor group (plaintiffs) sought to have the claims of the other creditor group (defendants) either equitably subordinated to the plaintiffs' claims under 11 U.S.C.S. § 510(b) or (c), or recharacterized as equity.
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Court
:
ODonnell v. Tristar Esperanza Props. LLC (In re Tristar Esperanza Props. LLC)
Mar
08
2013
Ruling
Bankruptcy court properly held that mandatory subordination applied to claim of former equity holder.
Procedural posture
Appellant sought review of a decision from the United States Bankruptcy Court for the Central District of California, which concluded that 11 U.S.C.S. § 510(b) mandatory subordination applied to appellant's claim.
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Court
:
Judge or Jurisdiction information not available