Legal Opinion
Palmdale Hills Property, LLC v. Lehman Commerical Paper, Inc. (In Re Palmdale Hills Property, LLC)
United States Bankruptcy Appellate Panel for the Ninth Circuit
Decided August 10, 2011No. BAP Nos. CC-10-1007-KiMkH, CC-10-1008-KiMkH. Bankruptcy No. SA 08-17206 ESPublishedCited by 4 opinions
1Opinion of the Court
OPINION
KIRSCHER, Bankruptcy Judge.
This appeal gives us an opportunity to expound on our decision in Jonas v. Farmer Bros. Co. (In re Comark), 145 B.R. 47, 49 (9th Cir. BAP 1992), to conclude that master repurchase agreements, or “repos,” which provide language that “the parties intend that all transactions hereunder be sales and purchases and not loans,” and which include annexes that do not alter the effect of these terms, are true sales and not secured transactions.
Appellants 1 (collectively “SunCal”) appeal an order from the bankruptcy court determining that Appellees/Cross-Appel-lants…
2Cases cited31 opinions
- Anderson v. City of Bessemer CitySupreme Court of the United States · 1985
- United States v. HinksonCourt of Appeals for the Ninth Circuit · 2009
- Breed v. Insurance Co. of North AmericaNew York Court of Appeals · 1978
- John Hancock Mutual Life Insurance Co. v. Amerford International Corp.Court of Appeals for the Second Circuit · 1994
- Meese v. MillerAppellate Division of the Supreme Court of the State of New York · 1981
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3Cited by4 opinions
- Jamal Kifafi v. Hilton Hotel Retirement PlanCourt of Appeals for the D.C. Circuit · 2012
- Casamatta v. Resurgent Capital Services, L.P. (In re Freeman-Clay)United States Bankruptcy Court, W.D. Missouri · 2017
- Hussain v. Malik (In Re Hussain)United States Bankruptcy Appellate Panel for the Ninth Circuit · 2014
- In re: Syed Shahzad HussainUnited States Bankruptcy Appellate Panel for the Ninth Circuit · 2014