In re Patriot Aviation Servs.

Nov

2008

11 U.S.C.
- § 510
- § 510(b)

Ruling:

Alternative transaction fee due on aborted securities transaction was only subject to subordination to secured claims.

Procedural posture:

The official committee of unsecured creditors for a chapter 11 debtor filed a motion for partial summary judgment on its objection to a claim of an aborted securities purchaser. The committee sought to subordinate the claim to the claims of general unsecured creditors pursuant to 11 U.S.C.S. § 510(b).

Issue:

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Court: Southern District of Florida ( Olson ) [ Bankruptcy Court ]

Commercial case opionion summary, case decided on November 18,2008, LexisNexis #1208-114