Legal Opinion
In Re Glade Springs, Inc.
United States Bankruptcy Court, E.D. Tennessee
Decided March 21, 1985No. Bankruptcy 3-83-01854PublishedCited by 13 opinions
1Opinion of the Court
MEMORANDUM AND ORDER ON OBJECTION TO CLAIM NO. 57
CLIVE W. BARE, Bankruptcy Judge.
At issue is whether a confirming bank, U.C.C. § 5-103(f) (1977), 1 that honors a letter of credit is entitled to equitable subro-gation to the rights of the issuer of the credit under a deed of trust executed to secure the issuer. The facts are stipulated.
I
The debtor, Glade Springs, Inc., is a Delaware corporation. One hundred (100) percent of its stock is owned by D. Broward Craig as trustee for another bankruptcy estate. 2 Debtor owned and operated a resort and residential complex in West Virginia when it filed…
2Cases cited11 opinions
- Curry v. McCanlessSupreme Court of the United States · 1939
- In Re New England Fish CompanyCourt of Appeals for the Ninth Circuit · 1984
- Crab Orchard Improvement Co. v. Chesapeake & O. Ry. Co.Court of Appeals for the Fourth Circuit · 1940
- Bonham v. Coe, KatzNew York Court of Appeals · 1937
- Bonham v. CoeAppellate Division of the Supreme Court of the State of New York · 1937
6 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- Fisher v. Outlet Co. (In Re Denby Stores, Inc.)United States Bankruptcy Court, S.D. New York · 1988
- In Re RussellUnited States Bankruptcy Court, W.D. Arkansas · 1989
- Ridge v. Smothers (In Re Smothers)United States Bankruptcy Court, W.D. Kentucky · 1986
- In Re Glade Springs, Inc., Debtor. Chemical Bank, Claimant-Appellant v. D. Broward Craig, Trustee of David A. CrabtreeCourt of Appeals for the Sixth Circuit · 1987
- Leonard A. Feinberg, Inc. v. Central Asia Capital Corp., Ltd.District Court, E.D. Pennsylvania · 1997
8 more not listed; retrieve them via the Exa API.