Legal Opinion
Bank of America National Trust & Savings Ass'n v. 203 North LaSalle Street Partnership
Supreme Court of the United States
Decided May 3, 1999No. 97-1418PublishedCited by 356 opinions
1Opinion of the CourtJustice Souter
The issue in this Chapter 11 reorganization case is whether a debtor’s prebankruptey equity holders may, over the objection of a senior class of impaired creditors, contribute new capital and receive ownership interests in the reorganized entity, when that opportunity is given exclusively to the old equity holders under a plan adopted without consideration of alternatives. We hold that old equity holders are disqualified from participating in such a “new value” transaction by the terms of 11 U. S. C. § 1129(b)(2)(B)(ii), which in such circumstances bars a junior interest holder’s receipt of…
2Cases cited23 opinions
- Immigration & Naturalization Service v. Cardoza-FonsecaSupreme Court of the United States · 1987
- Russello v. United StatesSupreme Court of the United States · 1983
- U.S. Bancorp Mortgage Co. v. Bonner Mall PartnershipSupreme Court of the United States · 1994
- United States v. MenascheSupreme Court of the United States · 1955
- Norwest Bank Worthington v. AhlersSupreme Court of the United States · 1988
18 more not listed; retrieve them via the Exa API.
3Cited by356 opinions
- Czyzewski v. Jevic Holding Corp.Supreme Court of the United States · 2017
- Florida Department of Revenue v. Piccadilly Cafeterias, Inc.Supreme Court of the United States · 2008
- Rousey v. JacowaySupreme Court of the United States · 2005
- Motor Vehicle Casualty Co. v. Thorpe Insulation Co. (In Re Thorpe Insulation Co.)Court of Appeals for the Ninth Circuit · 2012
- In Re: Pws Holding Corporation Bruno's, Inc Food Max of Mississippi, Inc A.F. Stores, Inc Br Air, Inc. Food Max of Georgia, Inc Food Max of Tennessee, Inc Foodmax, Inc Lakeshore Foods, Inc Bruno's Food Stores, Inc Georgia Sales Company Sss Enterprise, Inc W.R. Huff Asset Management Co., L.L.C., in 00-5042 Hsbc Bank Usa, as Indenture Trustee for the 10.5% Senior Subordinated Notes, in 00-5074Court of Appeals for the Third Circuit · 2000
351 more not listed; retrieve them via the Exa API.