Legal Opinion
Merrimac Paper Co. v. Harrison (In Re Merrimac Paper Co.)
Court of Appeals for the First Circuit
Decided August 25, 2005No. 05-1010PublishedCited by 29 opinions
1Opinion of the Court
SELYA, Circuit Judge.
This case raises important questions about the ability of bankruptcy courts to subordinate claims arising from stock redemption installment payments that trace their origin to ERISA-qualified retirement plans. After reviewing recent Supreme Court precedents, we hold, as a general matter, that bankruptcy courts may not use their powers of equitable subordination to downgrade stock redemption claims on a categorical basis; instead, they must evaluate the propriety of equitable subordination case by case. Taking this general approach, we hold, more specifically, that the…
2Cases cited22 opinions
- Nachman Corp. v. Pension Benefit Guaranty CorporationSupreme Court of the United States · 1980
- In the Matter of Mobile Steel Company, Debtor. Elaine E. Benjamin v. Lester Y. Diamond, as Trustee in Bankruptcy for Mobile Steel, Inc.Court of Appeals for the Fifth Circuit · 1977
- United States v. NolandSupreme Court of the United States · 1996
- United States v. Reorganized CF&I Fabricators of Utah, Inc.Supreme Court of the United States · 1996
- In Re 604 Columbus Avenue Realty Trust, Debtor. Capitol Bank & Trust Company v. 604 Columbus Avenue Realty Trust, in Re 604 Columbus Avenue Realty Trust, Debtor. Federal Deposit Insurance Corporation, as Receiver/liquidating Agent of Capitol Bank & Trust Company v. 604 Columbus Avenue Realty TrustCourt of Appeals for the First Circuit · 1992
17 more not listed; retrieve them via the Exa API.
3Cited by29 opinions
- Glik v. CunniffeCourt of Appeals for the First Circuit · 2011
- Juan Armstrong, on Behalf of Themselves and Others Similarly Situated v. Lasalle Bank National AssociationCourt of Appeals for the Seventh Circuit · 2006
- Bronsdon v. Educational Credit Management Corp. (In Re Bronsdon)Bankruptcy Appellate Panel of the First Circuit · 2010
- Shubert v. Lucent Technologies Inc. (In Re Winstar Communications, Inc.)United States Bankruptcy Court, D. Delaware · 2005
- New Seabury Co. v. New Seabury Properties, LLC (In Re New Seabury Co.)Court of Appeals for the First Circuit · 2006
24 more not listed; retrieve them via the Exa API.