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FOOTHILL CAPITAL CORP. v. MIDCOM COMMUNICATIONS

No. 99-CV-71661.

246 B.R. 296 (2000)

FOOTHILL CAPITAL CORPORATION, Plaintiff-Appellant, v. OFFICIAL UNSECURED CREDITORS' COMMITTEE OF MIDCOM COMMUNICATIONS, INC., Defendant-Appellee.

United States District Court, E.D. Michigan, Southern Division.

March 10, 2000.

Attorney(s) appearing for the Case

Seth D. Gould, Detroit, Michigan, Randall L. Klein, Gerald F. Munitz, Chicago, Illinois, for plaintiff.

Kenneth E. Noble, Lawrence K. Snider, Chicago, Illinois, Jonathan S. Green, Detroit, Michigan, for defendant.

OPINION

COOK, District Judge.

The parties in this bankruptcy appeal essentially dispute whether it was proper for the Appellant, Foothill Capital Corporation ("Foothill"), to receive a prioritized payment of a monetary premium from the debtor, Midcom Communications, Inc. ("Midcom"), under the terms of a pre-bankruptcy financing agreement between these two companies. The Appellees, the Official Unsecured Creditors...

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