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IN RE EQUIPMENT EQUITY HOLDINGS, INC.

Bankruptcy No. 09-38306-sgj-7. Adversary No. 11-03362-sgj.

491 B.R. 792 (2013)

In re EQUIPMENT EQUITY HOLDINGS, INC., Debtor. Harold Gernsbacher, Andrew Scruggs, James Scruggs, Lee Scruggs, William Scruggs, Robert Zintgraff, David Campbell, Reed Jackson, Cynthia Jackson, Lynda Campbell, Jeff Grandy, Jeffrey Vreeland, Walter Eskuri, Roger Vang, Reuben Palm, James Palm, Richard Palm, Mark Palm, Michael Palm, Thomas Palm, Shannon Palm, Susan Palm, Maureen Palm, Pamela Palm, Kristen Palm, Gene Lee, Stephen Howze and Stephen Reynolds, Plaintiffs, v. David Campbell, S. Reed Jackson, Robert N. Zintgraff, Andrew Scruggs, Walter Eskuri, Harold Gernsbacher, Glencoe Growth Closely-Held Business Fund, L.P., Stockwell Fund, L.P., Massachusetts Mutual Life Insurance Company, MassMutual High Yield Partners II LLC, Glencoe Capital Partners II L.P., Thomas M. Garvin, Glencoe Capital Partners II, Thomas L. Bindley Revocable Trust, Kevin Bruce, Ed Poore, and Bill Aisenberg, Defendants.

United States Bankruptcy Court, N.D. Texas, Dallas Division.

April 12, 2013.

Attorney(s) appearing for the Case

J. Robert Forshey , Julie C. John , Lynda L. Lankford , Jeff P. Prostok , Forshey & Prostok, LLP, Ft. Worth, TX, for Debtor.

Robert A. Simon , Spencer D. Solomon , Barlow Garsek & Simon, LLP, Fort Worth, TX.

Shannon Palm, Wayzata, MN, pro se.

Erik Kyle Martin , Ian T. Peck , Haynes and Boone, LLP, Fort Worth, TX, Derek J. Meyer , Jason D. Strabo , McDermott, Will & Emery LLP, Los Angeles, CA, Nathan F. Coco , McDermott Will & Emery, LLP, Chicago, IL, Maurice K. Guinn , Gentry Tipton & McLemore, Knoxville, TN, for Defendants.

AMENDED1 MEMORANDUM OPINION IN SUPPORT OF JUDGMENT: (1) DENYING PLAINTIFFS' CLAIMS FOR (A) SUBORDINATION UNDER SECTION 510 AND (B) RECHARACTERIZATION; BUT (2) TREATING CERTAIN PLAINTIFFS/SELLER NOTEHOLDERS AS PARI PASSU WITH THE DEFENDANTS/NEW NOTEHOLDERS

STACEY G. JERNIGAN, Bankruptcy Judge.

"Equity is a roguish thing. For law we have a measure, know what to trust to; Equity is according to the...

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