Legal Opinion
HSBC Bank USA v. Bank of New England Corp. (In Re Bank of New England Corp.)
District Court, D. Massachusetts
Decided February 3, 2003No. CIV.A.01-12229-RGSPublishedCited by 7 opinions
1Opinion of the Court
STEARNS, District Judge.
On December 17, 2001, the Senior Debt holders of the bankrupt Bank of New England Corporation (BNEC), appealed a November 1, 2001 order of the Bankruptcy Court authorizing a distribution of assets from BNEC’s estate to the Junior Debt holders. Appellants maintain that no such distribution can be made before they are paid post-petition interest.
Prior to BNEC’s spectacular collapse, it obligated itself to six separate issues of Indenture debt, totaling $705,972,000. Under the terms of the Indentures, the first three issues (the Senior Debt) were to have priority over the…
2Cases cited11 opinions
- Butner v. United StatesSupreme Court of the United States · 1979
- Volt Info. Sciences, Inc. v. Bd. of Trustees of Leland Stanford Jr. U.Supreme Court of the United States · 1989
- Mastrobuono v. Shearson Lehman Hutton, Inc.Supreme Court of the United States · 1995
- Patterson v. ShumateSupreme Court of the United States · 1992
- William Rothenberg v. Lincoln Farm Camp, Inc.Court of Appeals for the Second Circuit · 1985
6 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- HSBC Bank USA v. Bank of New EnglandCourt of Appeals for the First Circuit · 2004
- In Re Bank of New England Corp.District Court, D. Massachusetts · 2007
- In re Bank of New England Corp.United States Bankruptcy Court, D. Massachusetts · 2012
- HSBC Bank USA, National Ass'n v. Bank of New York Mellon Trust Co. (In Re Bank of New England Corp.)Court of Appeals for the First Circuit · 2011
- In Re Bank of New England Corp.United States Bankruptcy Court, D. Massachusetts · 2007
2 more not listed; retrieve them via the Exa API.