Margaret B. McGimsey Trust v. USA Capital Diversified Trust Deed Fund, LLC (In Re USA Commercial Mortgage Co.)
United States Bankruptcy Appellate Panel for the Ninth Circuit
1Opinion of the Court
OPINION
RUSSELL, Bankruptcy Judge.
The Official Committee of Equity Security Holders of USA Capital Diversified Trust Deed Fund, LLC, filed objections to the proofs of claim of appellants. The Committee asserted that appellants’ proofs of claim are duplicative of their respective proofs of interest, and in any event, that the claims should be subordinated pursuant to 11 U.S.C. § 510(b) 2 . After holding two separate hearings, the bankruptcy court disallowed appellants’ claims. The appellants appealed.
We REVERSE.
I. FACTS
USA Capital Diversified Trust Deed Fund, LLC (“Diversified” or “Debtor”) is…
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