Legal Opinion
In re Envirodyne Industries, Inc.
Court of Appeals for the Seventh Circuit
Decided March 15, 1996No. Nos. 95-2733, 95-2734, 95-2735, and 95-2754PublishedCited by 11 opinions
1Opinion of the Court
CUMMINGS, Circuit Judge.
Defendants in this case failed to tender shares of stock in a corporation entering a shortform merger under Delaware law. Their equity interest was thus converted into debt and they retained the right to redeem their canceled shares for a specified amount without interest. They failed to do so, however, before the newly formed corporation filed for Chapter 11 bankruptcy, and Defendants now complain that the Bankruptcy Court improperly subordinated their claims to those of other general unsecured creditors. We affirm the decision to subordinate Defendants’ claims under…
2Cases cited9 opinions
- Kham & Nate's Shoes No. 2, Inc., Debtor-Appellee v. First Bank of WhitingCourt of Appeals for the First Circuit · 1990
- In the Matter of Virtual Network Services Corporation, Debtor-Appellee. Appeal of United States of AmericaCourt of Appeals for the Seventh Circuit · 1990
- In Re Burden, Wilfred, H., A/K/A Burden, Wilfred, H., Jr., T/a Burden's Janitorial Service & Supply Company v. The United States of AmericaCourt of Appeals for the Third Circuit · 1990
- Krugliak v. United StatesSupreme Court of the United States · 1992
- Robinson v. WangemannCourt of Appeals for the Fifth Circuit · 1935
4 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- In re Lifschultz Fast FreightCourt of Appeals for the Seventh Circuit · 1997
- In Re: William Stoecker, DebtorCourt of Appeals for the Seventh Circuit · 1999
- In the Matter Of: Lifschultz Fast Freight, Doing Business as Lifschultz Fast Freight Corporation, Debtor. Appeal Of: Salson Express Company, IncorporatedCourt of Appeals for the Seventh Circuit · 1997
- Herzog v. Leighton Holdings, Ltd. (In Re Kids Creek Partners, L.P.)United States Bankruptcy Court, N.D. Illinois · 1996
- In the Matter of Envirodyne Industries, Inc., Debtor-Appellee. Appeals of Seymour J. Ryckman, Illinois Department of Financial Institutions, State of California, Jerry M. Friedman, as Custodian for Julie, Jennifer and Mark Friedman, James Null, and David B. BloomCourt of Appeals for the Seventh Circuit · 1996
6 more not listed; retrieve them via the Exa API.