Legal Opinion
In the Matter of Virtual Network Services Corporation, Debtor-Appellee. Appeal of United States of America
Court of Appeals for the Seventh Circuit
Decided May 24, 1990No. 89-2335PublishedCited by 93 opinions
1Opinion of the Court
PELL, Senior Circuit Judge.
In this appeal, we must decide whether the district court erred in holding, contrary to the bankruptcy court’s judgment, that 11 U.S.C. § 510(c)(1) empowers the bankruptcy court to equitably subordinate the Internal Revenue Service’s (IRS) claim for non-pecuniary loss tax penalties 1 to claims of other creditors in this Chapter 11 liquidation proceeding.
I. BACKGROUND
On September 23, 1986, Virtual Network Services Corporation (“VNS”), a long-dis tance telephone service company, filed for Chapter 11 relief. Shortly thereafter, and pursuant to bankruptcy court order,…
2Cases cited14 opinions
- Pepper v. LittonSupreme Court of the United States · 1939
- Matter of Johns-Manville Corp.United States Bankruptcy Court, S.D. New York · 1986
- Stephanie Hays and Gail MacDonald v. Sony Corporation of AmericaCourt of Appeals for the Seventh Circuit · 1988
- In Re Johns-Manville Corp.District Court, S.D. New York · 1987
- Stirling Homex Corporation v. RaichleCourt of Appeals for the First Circuit · 1978
9 more not listed; retrieve them via the Exa API.
3Cited by93 opinions
- Kham & Nate's Shoes No. 2, Inc., Debtor-Appellee v. First Bank of WhitingCourt of Appeals for the First Circuit · 1990
- United States v. NolandSupreme Court of the United States · 1996
- United States v. Reorganized CF&I Fabricators of Utah, Inc.Supreme Court of the United States · 1996
- 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
- Bankr. L. Rep. P 73,583, 12 Ucc rep.serv.2d 549 in the Matter of Vitreous Steel Products Company, Debtor. Appeal of Lynn M. Miller, Trustee and Northern Indiana Public Service CompanyCourt of Appeals for the Seventh Circuit · 1990
88 more not listed; retrieve them via the Exa API.