Legal Opinion
Bank of America National Trust & Savings Ass'n v. Kaiser Steel Corp. (In Re Kaiser Steel Corp.)
United States Bankruptcy Court, D. Colorado
Decided August 8, 1988No. 19-10667PublishedCited by 29 opinions
1Opinion of the Court
MEMORANDUM OF DECISION
RICHARD L. BOHANON, * Bankruptcy Judge.
The central issue in this adversary proceeding concerns whether a bank which pays a standby letter of credit may be subrogated to the rights of the creditor to proceed on its security interest in debtor’s assets. Kaiser Steel Corporation, the debt- or, and Bank of America each seek a judgment declaring their respective rights. Shortly before trial GATX Leasing Corporation settled its dispute with the Bank.
The facts are not complex but lead into an area in which the law is developing. In 1985 Kaiser required a standby letter of…
2Cases cited12 opinions
- Federal Deposit Insurance v. Philadelphia Gear Corp.Supreme Court of the United States · 1986
- American Surety Co. v. Bethlehem National BankSupreme Court of the United States · 1941
- Federal Deposit Insurance Corporation, as Receiver of Penn Square Bank, N.A. v. The Liberty National Bank & Trust Co., Federal Deposit Insurance Corporation, as Receiver of Penn Square Bank, N.A. v. Utica National Bank and Trust CompanyCourt of Appeals for the Tenth Circuit · 1986
- In Re Trasks' CharolaisUnited States Bankruptcy Court, D. South Dakota · 1988
- In Re Minnesota Kicks, Inc.United States Bankruptcy Court, D. Minnesota · 1985
7 more not listed; retrieve them via the Exa API.
3Cited by29 opinions
- In Re James S. Hamada, Debtor. James S. Hamada v. Far East National Bank, a California CorporationCourt of Appeals for the Ninth Circuit · 2002
- In Re Valley Vue Joint VentureUnited States Bankruptcy Court, E.D. Virginia · 1991
- Pandora Industries, Inc. v. Paramount Communications Inc. (In Re Wingspread Corp.)District Court, S.D. New York · 1992
- In Re RussellUnited States Bankruptcy Court, W.D. Arkansas · 1989
- Photo Mechanical Services, Inc. v. E.I. DuPont De Nemours & Co. (In Re Photo Mechanical Services, Inc.)United States Bankruptcy Court, D. Minnesota · 1995
24 more not listed; retrieve them via the Exa API.