Legal Opinion

Summit Coffee Co. v. Herby's Foods, Inc. (In Re Herby's Foods, Inc.)

Court of Appeals for the Fifth Circuit

Decided September 15, 1993No. 92-1703PublishedCited by 79 opinions

1Opinion of the Court

POLITZ, Chief Judge:

We review the propriety of a bankruptcy court’s equitable subordination of certain creditors’ claims to a level equivalent to that of equity stockholders. Finding no infirmity in the bankruptcy court’s rulings or in the upholding thereof by the district court, we affirm.

Background

Herby’s Foods, Inc. produced and distributed fast foods to convenience stores. The Summit Coffee Company, Inc., Dunnam-Sny-der Company, and The Snyder Company, Inc. (collectively, the Insiders) are interrelated companies that advanced funds to Herby’s and possess claims as unsecured creditors in…

2Cases cited8 opinions

Pepper v. LittonSupreme Court of the United States · 1939
In the Matter of Mobile Steel Company, Debtor. Elaine E. Benjamin v. Lester Y. Diamond, as Trustee in Bankruptcy for Mobile Steel, Inc.Court of Appeals for the Fifth Circuit · 1977
In the Matter of Multiponics, Incorporated, Bankrupt. MacHinery Rental, Inc. And Carl Biehl v. William W. Herpel, TrusteeCourt of Appeals for the Fifth Circuit · 1980
In the Matter of Missionary Baptist Foundation of America, Inc., Debtors. Robert B. Wilson, Trustee v. Robert G. HuffmanCourt of Appeals for the Fifth Circuit · 1983
In the Matter of Fabricators, Inc., Debtor. Fabricators, Inc., Cross-Appellant v. Technical Fabricators, Inc., Cross-AppelleeCourt of Appeals for the Fifth Circuit · 1991

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3Cited by79 opinions

World Help v. Leisure Lifestyles, Inc.Court of Appeals of Texas · 1998
Official Committee of Unsecured Creditors of Toy King Distributors, Inc. v. Liberty Savings Bank, FSB (In Re Toy King Distributors, Inc.)United States Bankruptcy Court, M.D. Florida · 2000
Citicorp Venture Capital, Ltd., a New York Corporation v. Committee of Creditors Holding Unsecured Claims, and Committee of Creditors Holding Unsecured Claims as Estate Representative of Papercraft Corporation (d.c. Civil No. 95-Cv-01872). Committee of Creditors Holding Unsecured Claims, and Committee of Creditors Holding Unsecured Claims as Estate Representative of Papercraft Corporation v. Citicorp Venture Capital, Ltd., a New York Corporation (d.c. Civil No. 95-Cv-01886)Court of Appeals for the Third Circuit · 1998
In re Lifschultz Fast FreightCourt of Appeals for the Seventh Circuit · 1997
In the Matter of Clayton Wray Stone, Jr. And Jeannine Stone, Debtors. Clayton Wray Stone, Jr. And Wife, Jeannine Stone v. Melvin CaplanCourt of Appeals for the Fifth Circuit · 1994

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