- 11 U.S.C.
In re Tiger Aircraft LLC
Aug
06
2010
Ruling
Creditor's claim based on equity interest in debtor could not be classified as unsecured.
Procedural posture
A Chapter 7 trustee filed an objection to a creditor's classification of its proof of claim as unsecured on the grounds that the creditor's claim was on account of its equity interest in the debtor and thus, pursuant to 11 U.S.C.S. § 726, it could only be paid if all unsecured claims received full payment. The court treated the parties' briefs as cross-motions for summary judgment.
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Court
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