Legal Opinion
Kham & Nate's Shoes No. 2, Inc., Debtor-Appellee v. First Bank of Whiting
Court of Appeals for the First Circuit
Decided October 12, 1990No. 89-3001PublishedCited by 332 opinions
1Opinion of the Court
EASTERBROOK, Circuit Judge.
Kham & Nate’s Shoes No. 2, Inc., ran four retail shoe stores in Chicago. It has been in bankruptcy since 1984, operating as a debtor in possession. First Bank of Whiting, one of Kham & Nate’s creditors, appeals from the order confirming its plan of reorganization. This order not only reduces the Bank’s secured claim to unsecured status but also allows Khamolaw Beard and Nathaniel Parker, the debtor’s principals, to retain their equity interests despite the firm’s inability to pay its creditors in full. The bankruptcy judge subordinated the Bank’s claims after…
2Cases cited34 opinions
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- Butner v. United StatesSupreme Court of the United States · 1979
- Pepper v. LittonSupreme Court of the United States · 1939
- Norwest Bank Worthington v. AhlersSupreme Court of the United States · 1988
- Pennsylvania Department of Public Welfare v. DavenportSupreme Court of the United States · 1990
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3Cited by332 opinions
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