1. Home
  2. Browse Decisions
  3. U.S.
  4. 526 U.S.
  5. 526 U.S. 434 (1999)
 

BANK OF AMERICA NAT. TRUST AND SAV. ASSN. v. 203 NORTH LaSALLE STREET PARTNERSHIP

No. 97-1418.

526 U.S. 434 (1999)

BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION v. 203 NORTH LaSALLE STREET PARTNERSHIP

United States Supreme Court.

Decided May 3, 1999.

Attorney(s) appearing for the Case

Roy T. Englert, Jr., argued the cause for petitioner. With him on the briefs were Thomas S. Kiriakos and James C. Schroeder.

Patricia A. Millett argued the cause for the United States as amicus curiae urging reversal. With her on the brief were Solicitor General Waxman, Assistant Attorney General Hunger, Deputy Solicitor General Wallace, William Kanter, and Bruce G. Forrest.

Richard M. Bendix, Jr., argued the cause for respondent. With him on the brief were Malcolm M. Gaynor and Paul J. Gaynor.*

Souter, J., delivered the opinion of the Court, in which Rehnquist, C. J., and O'Connor, Kennedy, Ginsburg, and Breyer, JJ., joined. Thomas, J., filed an opinion concurring in the judgment, in which Scalia, J., joined, p. 458. Stevens, J., filed a dissenting opinion, p. 463.

Justice Souter, delivered the opinion of the Court.

The issue in this Chapter 11 reorganization case is whether a debtor's prebankruptcy equity holders may, over the objection of a senior class of impaired creditors, contribute new capital and receive ownership interests in the reorganized entity, when that opportunity is given exclusively to the old equity holders under a plan adopted without consideration of alternatives. We hold that old equity holders are disqualified...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases