In re MPM Silicones LLC
Sep
09
2014
Ruling
Claims of senior note-holders properly subordinated to claims of second lien holders.
Issue(s)
What was proper treatment of claims of senior note holders and second lien holders in debtor's plan?
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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
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
:
In re Alternate Funds
Dec
10
2012
Ruling
Debt based on notes assigned to purchaser of debtor's mining business assets recharacterized as equity investment and subordinated as unsecured claim.
Procedural posture
A chapter 11 trustee, objected to a proof of claim submitted by defendant purchasers.
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Court
:
Assante v. Eastern Sav. Bank (In re Assante)
May
22
2012
Ruling
Debtor's proceeding to subordinate claim dismissed as issues were fully and fairly litigated in state court.
Procedural posture
Creditor filed a motion to dismiss chapter 11 debtor's adversary proceeding, which sought to subordinate the creditor's mortgage to the claims of all other creditors pursuant to 11 U.S.C.S. § 510(c) and to vacate the creditor's lien.
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Court
:
Wolff v. Waverly View Investors LLC (In re RGHGAB at Frederick LLC)
Apr
24
2012
Ruling
Claim of LLC created by owner of LLC that created debtor LLC to purchase secured debtor was not subject to equitable subordination.
Procedural posture
Chapter 7 trustee filed an adversary proceeding against defendant creditors, seeking a determination that a claim one of the creditors filed against an LLC's ("debtor's") bankruptcy estate was subject to equitable subordination under 11 U.S.C.S. § 510(c). The creditor opposed the trustee's action and filed a motion under 11 U.S.C.S. § 362 for relief from the automatic stay.
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Court
:
In re USDigital Inc.
Dec
20
2011
Ruling
Determination that claims were subject to equitable subordination was a core proceeding.
Procedural posture
Chapter 7 trustee filed an adversary proceeding against defendants, several individuals and businesses, and three individuals and one of the businesses asked the court to determination if six counts pending against them were core or non-core proceedings. The court addressed the question of whether the trustee's count seeking equitable subordination of claims under 11 U.S.C.S. § 510(c) was a core or a non-core proceeding.
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Court
:
- 11 U.S.C.
In re El Matador Inc.
Mar
17
2011
Ruling
Objection to Department of Labor judgment claim treated as request for subordination and denied.
Procedural posture
Debtor filed a petition under Chapter 11 of the Bankruptcy Code and the U.S. Department of Labor ("DOL") filed a claim against the debtor's bankruptcy estate, seeking payment of a judgment it obtained in federal district court. The debtor filed an objection to the claim, and the court treated the objection as a request for subordination under 11 U.S.C.S. § 510(c)(1) of a portion of the judgment the DOL obtained.
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Court
: