Legal Opinion
BT/SAP Pool C Associates, L.P. v. Coltex Loop Central Three Partners, L.P.
District Court, S.D. New York
Decided November 21, 1996No. 96 Civ. 0029 (DC)PublishedCited by 11 opinions
1Opinion of the Court
AMENDED OPINION
CHIN, District Judge.
At issue in this appeal from a final order of the Bankruptcy Court (Cornelius Black-shear, B.J.) confirming a Chapter 11 plan of reorganization is the interplay between the “absolute priority rule” and what has been referred to generally as the “new value exception.”
The absolute priority rule was first developed as a matter of common law in the nineteenth century. It provides that equity holders (or other junior creditors) may not receive or retain any property or interest in a debtor under a plan of reorganization unless objecting senior creditors are paid…
2Cases cited22 opinions
- United States v. United States Gypsum Co.Supreme Court of the United States · 1948
- U.S. Bancorp Mortgage Co. v. Bonner Mall PartnershipSupreme Court of the United States · 1994
- Norwest Bank Worthington v. AhlersSupreme Court of the United States · 1988
- Case v. Los Angeles Lumber Products Co.Supreme Court of the United States · 1939
- Northern Pacific Railway Co. v. BoydSupreme Court of the United States · 1913
17 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Zohlman v. ZoldanDistrict Court, S.D. New York · 1998
- In the Matter of 203 N. Lasalle Street Partnership, an Illinois Limited Partnership, Debtor-Appellee, Appeal Of: Bank of America IllinoisCourt of Appeals for the Seventh Circuit · 1997
- In Re Cypresswood Land Partners, IUnited States Bankruptcy Court, S.D. Texas · 2009
- Omni Partners, L.P. v. Pudgie's Dev. of NY, Inc. (In Re Pudgie's Development of NY, Inc.)District Court, S.D. New York · 1999
- In re Coltex Loop Central Three Partners, L.P.Court of Appeals for the Second Circuit · 1998
6 more not listed; retrieve them via the Exa API.