Legal Opinion
In Re A.V.B.I., Inc.
United States Bankruptcy Court, C.D. California
Decided July 29, 1992No. Bankruptcy LA 91-68607PublishedCited by 16 opinions
1Opinion of the Court
OPINION DENYING CONFIRMATION OF PLAN
LISA HILL FENNING, Bankruptcy Judge.
I. Introduction
The key issue in this bitter confirmation battle is whether, as a matter of law, a plan providing for current shareholders to retain an option to purchase new equity in the reorganized debtor violates the “absolute priority” rule under 11 U.S.C. Section 1129. To exercise that option, holders of old equity are required to contribute cash to fund the plan. The corporate debtor proposes to “cram-down” its plan over the negative votes and objections of several classes of creditors, relying on the controversial…
2Cases cited23 opinions
- United States v. Ron Pair Enterprises, Inc.Supreme Court of the United States · 1989
- Dewsnup v. TimmSupreme Court of the United States · 1992
- Armstrong v. United StatesSupreme Court of the United States · 1960
- Norwest Bank Worthington v. AhlersSupreme Court of the United States · 1988
- Taylor v. Freeland & KronzSupreme Court of the United States · 1992
18 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- In Re Bonner Mall Partnership, Debtor. Bonner Mall Partnership v. U.S. Bancorp Mortgage Co.Court of Appeals for the Ninth Circuit · 1993
- In Re SM 104 Ltd.United States Bankruptcy Court, S.D. Florida. · 1993
- Yi v. Citibank (Maryland), N.A. (In Re Yi)District Court, E.D. Virginia · 1998
- Dever v. Internal Revenue Service (In Re Dever)United States Bankruptcy Court, C.D. California · 1994
- In Re 203 North LaSalle Street Ltd. PartnershipUnited States Bankruptcy Court, N.D. Illinois · 1995
11 more not listed; retrieve them via the Exa API.