Legal Opinion
Marine Midland Bank, N.A. v. Ladycliff College (In Re Ladycliff College)
District Court, S.D. New York
Decided December 20, 1985No. 85 Civ. 2251 (MJL)PublishedCited by 11 opinions
1Opinion of the Court
MEMORANDUM OPINION AND ORDER
LOWE, District Judge.
Presently before the Court are cross-appeals from the order of the Bankruptcy Court (Ryan, J.). For the reasons stated below we affirm the order.
BACKGROUND
This appeal involves the application of a well settled principle of bankruptcy law to a truly unusual factual situation. The facts are not in dispute however the parties strongly disagree on how the law should be applied to those facts.
The Debtor Under the Act, Ladycliff College (“Ladycliff”), is a small college. On November 27, 1979 Ladycliff borrowed $370,000 from the creditor…
2Cases cited3 opinions
- 6 Collier bankr.cas.2d 321, Bankr. L. Rep. P 69,005 in Re United Merchants and Manufacturers, Inc., Debtors. United Merchants and Manufacturers, Inc., Debtors-Appellees v. The Equitable Life Assurance Society of the United States and John Hancock Mutual Life Insurance CompanyCourt of Appeals for the Second Circuit · 1982
- In Re O'Gara Coal Co.Court of Appeals for the Seventh Circuit · 1926
- In Re Ladycliff CollegeUnited States Bankruptcy Court, S.D. New York · 1985
3Cited by11 opinions
- In Re Snider Farms, Inc.United States Bankruptcy Court, N.D. Indiana · 1988
- In Re Woodmere Investors Limited PartnershipUnited States Bankruptcy Court, S.D. New York · 1995
- Sakowitz, Inc. v. Chase Bank International (In Re Sakowitz, Inc.)United States Bankruptcy Court, S.D. Texas · 1989
- Pride Companies, L.P. v. Johnson (In Re Pride Companies, L.P.)United States Bankruptcy Court, N.D. Texas · 2002
- Bank of Honolulu v. Anderson (In Re Anderson)United States Bankruptcy Appellate Panel for the Ninth Circuit · 1986
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