In the Matter of SOUTHEAST BANKING CORPORATION, Debtor.
CHEMICAL BANK, as Indenture Trustee under an Indenture, Dated as of March 1, 1983, of Southeast Banking Corporation, et al., Appellants,
v.
FIRST TRUST OF NEW YORK, NATIONAL ASSOCIATION, as Indenture Trustee, et al., Respondents.
Court of Appeals of the State of New York.https://leagle.com/images/logo.png
Argued March 29, 1999.
Decided April 29, 1999.
Attorney(s) appearing for the Case
Willkie Farr & Gallagher, New York City (Louis A. Craco and Tariq Mundiya of counsel), Kelley Drye & Warren, L. L. P. (Sarah L. Reid and Ari J. Glazer of counsel), and Kasowitz Benson Torres & Friedman, L. L. P. (David M. Friedman and David S. Rosner of counsel), for appellants.
Stutman, Treister & Glatt, P. C. (Kenneth N. Klee and Isaac M. Pachulski, of the California Bar, admitted pro hac vice, of counsel), Holland & Knight, L. L. P. (Craig V. Rasile, of the Florida Bar, admitted pro hac vice, of counsel), and Twomey, Hoppe & Gallanty, L. L. P., New York City (Gary Hoppe and Diane Fernbach of counsel), for respondents.
Greenberg Traurig, P. A. (Mark D. Bloom and Elliot H. Scherker, of the Florida Bar, admitted pro hac vice, of counsel), for debtor.
Chief Judge KAYE and Judges SMITH, LEVINE, CIPARICK, WESLEY and ROSENBLATT concur.
Court of Appeals of the State of New York.
OPINION OF THE COURT
BELLACOSA, J.
This Court accepted the following State law question, certified to us by the United States Court of Appeals for the Eleventh Circuit:
"What, if any, language does New York law require in a subordination agreement to alert a junior creditor to its assumption of the risk and burden of the senior creditor's post-petition interest?" (In re Southeast Banking Corp...
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