Legal Opinion
In Re Ionosphere Clubs, Inc.
United States Bankruptcy Court, S.D. New York
Decided April 2, 1990No. 19-10729PublishedCited by 4 opinions
1Opinion of the Court
MEMORANDUM DECISION ON MOTION AND CROSS-MOTION TO DETERMINE SECTION 1110 STATUS
BURTON R. LIFLAND, Chief Judge.
The dispute presented herein raises a novel question as to whether a party who advances funds for the purpose of financing the acquisition of aircraft which are to be included as part of a larger pre-existing floating collateral pool is entitled to the special benefits provided in § 1110 of the Bankruptcy Code.
BACKGROUND
On March 9, 1989, (the “Petition Date”) Eastern Air Lines, Inc. (“Eastern/Debtor”) filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (the…
2Cases cited21 opinions
- Manuel v. PierceCourt of Appeals for the Fifth Circuit · 1975
- In Re Airlift International, Inc., Debtor, Gatx Leasing Corp. v. Airlift International, Inc.Court of Appeals for the Eleventh Circuit · 1985
- Southtrust Bank of Alabama, National Association, Formerly Named Birmingham Trust National Bank v. Borg-Warner Acceptance Corp., a CorporationCourt of Appeals for the Eleventh Circuit · 1985
- Coomer v. Barclays American Financial, Inc. (In Re Coomer)United States Bankruptcy Court, E.D. Tennessee · 1980
- William D. Seidle, as Trustee for the Estate of Airlift International, Inc., Debtor v. Gatx Leasing CorporationCourt of Appeals for the Eleventh Circuit · 1985
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3Cited by4 opinions
- In Re PetrocciUnited States Bankruptcy Court, N.D. New York · 2007
- First National Bank of Boston v. Shugrue (In Re Ionosphere Clubs, Inc.)District Court, S.D. New York · 1991
- In Re Cardinal Industries, Inc.United States Bankruptcy Court, S.D. Ohio · 1993
- In Re Pan Am Corp.United States Bankruptcy Court, S.D. New York · 1991