MATTER OF XONICS PHOTOCHEMICAL, INC.

No. 87-2143.

841 F.2d 198 (1988)

In the Matter of XONICS PHOTOCHEMICAL, INC., Debtor. Appeal of MITSUI AND COMPANY (U.S.A.), INC.

United States Court of Appeals, Seventh Circuit.

Decided March 8, 1988.


Attorney(s) appearing for the Case

Thomas D. Goldberg, Hughes Hubbard & Reed, Washington, D.C., for appellant.

Erick S. Rein, Schwartz, Cooper, Kolb & Gaynor, Chtd., Chicago, Ill., for appellee.

Before POSNER, COFFEY, and EASTERBROOK, Circuit Judges.


POSNER, Circuit Judge.

This bankruptcy case presents interesting questions concerning the status in bankruptcy of contingent liabilities and interaffiliate obligations. For background see Comment, Avoidability of Intercorporate Guarantees Under Sections 548(a)(2) and 544(b) of the Bankruptcy Code, 64 N.C.L.Rev. 1099 (1986). Xonics, Inc., now in Chapter 11 bankruptcy, has several wholly owned subsidiaries that are engaged in making medical equipment. The largest...

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