O'Donnell v. Tristar Esperanza Properties, LLC (In Re Tristar Esperanza Properties, LLC)
United States Bankruptcy Appellate Panel for the Ninth Circuit
1Opinion of the Court
OPINION
KLEIN, Bankruptcy Judge.
This is a mandatory subordination case. The “damages” clause of 11 U.S.C. § 510(b) mandates subordination of claims for “damages arising from the purchase or sale” of a security of the debtor. The bankruptcy court concluded that § 510(b) mandatory subordination applies to the claim of appellant, who withdrew as a member of the debtor limited liability company (“LLC”) and obtained a judgment valuing her equity interest after the LLC did not honor a provision in its operating agreement requiring buy-back of the withdrawing member’s interest.
We agree with the…
2Cases cited19 opinions
- United States v. Ron Pair Enterprises, Inc.Supreme Court of the United States · 1989
- New Hampshire v. MaineSupreme Court of the United States · 2001
- Lamie v. United States TrusteeSupreme Court of the United States · 2004
- Lawrence Hamilton v. State Farm Fire & Casualty Company, an Illinois Corporation David's Restaurant SupplyCourt of Appeals for the Ninth Circuit · 2001
- In Re Telegroup, Inc. Baroda Hill Investments, Ltd. Leheron Corporation, Ltd. Kimble John Winter v. Telegroup, IncCourt of Appeals for the Third Circuit · 2002
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3Cited by13 opinions
- Adler v. Lehman Bros. Holdings Inc. (In re Lehman Bros. Holdings Inc.)Court of Appeals for the Second Circuit · 2017
- Pensco Trust Co. v. Tristar Esperanza Properties, LLCCourt of Appeals for the Ninth Circuit · 2015
- In re Lehman Bros. Holdings Inc.United States Bankruptcy Court, S.D. New York · 2014
- In re: Zafar David Khan Terrance Alexander TomkowUnited States Bankruptcy Appellate Panel for the Ninth Circuit · 2014
- Orange County Nursery, Inc. v. Minority Voting Trust (In re Orange County Nursery, Inc.)District Court, C.D. California · 2014
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