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IN RE TELEGROUP, INC.

No. 00-3823.

281 F.3d 133 (2002)

In re TELEGROUP, INC. Baroda Hill Investments, Ltd.; Leheron Corporation, Ltd.; Kimble John Winter, Appellants, v. Telegroup, Inc.

United States Court of Appeals, Third Circuit.

Filed February 15, 2002.

Attorney(s) appearing for the Case

J. Barry Cocoziello, Robert J. McGuire (Argued), Podvey, Sachs, Meanor, Catenacci, Hildner & Cocoziello, Newark, NJ, Counsel for Appellants Baroda Hill Investments, Ltd., LeHeron Corporation, Ltd., and Kimble John Winter.

James A. Stempel, Jason N. Zakia (Argued) Kirkland & Ellis, Chicago, IL, Counsel for Appellee Telegroup, Inc.

Before: BECKER, Chief Judge, SCIRICA and GREENBERG, Circuit Judges.

OPINION OF THE COURT

BECKER, Chief Judge.

This bankruptcy appeal requires us to construe 11 U.S.C. § 510(b), which provides for the subordination of any claim for damages "arising from the purchase or sale" of a security of the debtor. The appeal arises out of a Chapter 11 Bankruptcy petition filed by appellee Telegroup, Inc. Appellants Baroda Hill Investments, Ltd., LeHeron Corporation, Ltd., and Kimble John Winter ("claimants" or "appellants") are...

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