Bank of America National Trust & Savings Ass'n v. 203 North LaSalle Street Partnership
1999 United States Supreme Court case / From Wikipedia, the free encyclopedia
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Bank of America National Trust and Savings Association v. 203 North LaSalle Street Partnership, 526 U.S. 434 (1999), was a decision by the United States Supreme Court.
Quick Facts Bank of America Nat. Trust and Sav. Ass'n v. 203 North LaSalle Street P'ship, Argued November 2, 1998 Decided May 3, 1999 ...
Bank of America Nat. Trust and Sav. Ass'n v. 203 North LaSalle Street P'ship | |
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Argued November 2, 1998 Decided May 3, 1999 | |
Full case name | Bank of America National Trust and Savings Association v. 203 North LaSalle Street Partnership |
Citations | 526 U.S. 434 (more) 119 S. Ct. 1411; 143 L. Ed. 2d 607 |
Case history | |
Prior | In re 203 N. LaSalle St. Partnership, 126 F.3d 955 (7th Cir. 1997); cert. granted, 523 U.S. 1106 (1998). |
Holding | |
A debtor's prebankruptcy equity holders may not, 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. | |
Court membership | |
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Case opinions | |
Majority | Souter, joined by Rehnquist, O'Connor, Kennedy, Ginsburg, Breyer |
Concurrence | Thomas, joined by Scalia |
Dissent | Stevens |
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