Legal Opinion
Saddleback Valley Community Church v. El Toro Materials Co. (In Re El Toro Materials Co.)
Court of Appeals for the Ninth Circuit
Decided October 1, 2007No. 05-56164PublishedCited by 28 opinions
1Opinion of the Court
OPINION
KOZINSKI, Circuit Judge:
Bankruptcy presents a unique challenge: How should a paucity of resources be allocated to cover a multiplicity of claims? Distributing money to satisfy claims is, in most cases, a zero-sum game: Every dollar given to one creditor is a dollar unavailable to satisfy the debt owed to others. For Paul to be paid in full, Peter must be short-changed. Congress sought to balance the interests of competing creditors through an extensive set of rules organizing, prioritizing and structuring claims against the estate. E.g., 11 U.S.C. § 507(a) (prioritizing claims); id. §…
2Cases cited5 opinions
- Textile Mills Securities Corp. v. CommissionerSupreme Court of the United States · 1941
- Manhattan Properties, Inc. v. Irving Trust Co.Supreme Court of the United States · 1934
- Oldden v. Tonto Realty CorporationCourt of Appeals for the Second Circuit · 1944
- Kuske v. McSheridan (In Re McSheridan)United States Bankruptcy Appellate Panel for the Ninth Circuit · 1995
- In Re Best Products Co., Inc.United States Bankruptcy Court, E.D. Virginia · 1998
3Cited by28 opinions
- Hoopai v. HoopaiCourt of Appeals for the Ninth Circuit · 2009
- JSJF Corp. v. Wall Street Plaza, LLC (In re JSJF Corp.)Court of Appeals for the Ninth Circuit · 2008
- In re MDC Systems, Inc.United States Bankruptcy Court, E.D. Pennsylvania · 2013
- Lariat Companies v. Wigley (In re Wigley)United States Bankruptcy Appellate Panel for the Eighth Circuit · 2015
- In Re BrownUnited States Bankruptcy Court, N.D. Ohio · 2008
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