Legal Opinion
In Re Klein Sleep Products, Inc., Debtor. Nostas Associates v. Bernard W. Costich, Chapter 11 Trustee, and Official Committee of Unsecured Creditors
Court of Appeals for the Second Circuit
Decided February 16, 1996No. 1532, Docket 94-5068PublishedCited by 105 opinions
1Opinion of the Court
CALABRESI, Circuit Judge:
The liquidation provisions of the Bankruptcy Code contained in 11 U.S.C. § 726 distribute a pro-rata share of a debtor’s estate to each unsecured creditor so that similarly situated creditors may be treated alike. This pro-rata rule does not, however, always lead to an equitable distribution of the estate. When one claimant is a landlord holding a long-term lease, its single unsecured claim for twenty or thirty years of future rent could devour so much of the debtor’s estate that only crumbs could be left for the other unsecured creditors. Recognizing the potentially…
2Cases cited17 opinions
- Dewsnup v. TimmSupreme Court of the United States · 1992
- National Labor Relations Board v. Bildisco & BildiscoSupreme Court of the United States · 1984
- In Re Orion Pictures Corporation, Debtor, Orion Pictures Corporation v. Showtime Networks, Inc., Formerly Known as Showtime/the Movie Channel, Inc.Court of Appeals for the Second Circuit · 1993
- In Re Mammoth Mart, Inc., Debtor. Stanley Cramer v. Mammoth Mart, Inc.Court of Appeals for the First Circuit · 1976
- Trustees of the Amalgamated Insurance Fund v. McFarlin's, Inc.Court of Appeals for the Second Circuit · 1986
12 more not listed; retrieve them via the Exa API.
3Cited by105 opinions
- Devan v. Simon DeBartolo Group, L.P.Court of Appeals for the Fourth Circuit · 1999
- In Re FOOD BARN STORES, INC., Debtor. FOUR B. CORPORATION, Creditor—Appellant, v. FOOD BARN STORES, INC., Debtor—AppelleeCourt of Appeals for the Eighth Circuit · 1997
- In Re: Eagle-Picher Industries, Inc., Debtor. Caradon Doors and Windows, Inc. v. Eagle-Picher Industries, Inc., Movant-AppellantCourt of Appeals for the Sixth Circuit · 2006
- In Re Ames Department Stores, Inc.United States Bankruptcy Court, S.D. New York · 2004
- Newman v. McCrory Corp. (In Re McCrory Corp.)District Court, S.D. New York · 1997
100 more not listed; retrieve them via the Exa API.