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result of his post-petition termination without cause, was not an administrative expense pursuant to S 507(a)(1).)
In re Celotex Corp., 472 F.3d 1318 (11th Cir. Dec. 20, 2006) (Debtor's codefendant who, jointly and severally with the debtor, is primarily liable for a state court judgment is excluded by S 509(b) from seeking subrogation.)
In re Applied Theory Corporation, 493 F.3d 82 (2nd Cir. July 9, 2007) (Section 510(c) does not give a creditor's committee the unrestricted right to bring an equitable subordination claim without court approval. The Committee unsuccessfully argued that pursuant to S 510(c), an equitable subordination claim is a "direct" claim and not a derivative claim brought on behalf of the trustee or debtor-in-possession, and that as a result no court approval is required to bring such a claim. The Second Circuit ruled that where the purpose of a creditors committee claim is to preserve the interests of the estate as a whole, allowing the committee to pursue the claim would improperly usurp the trustee's role as a representative of the estate. In light of the fact that the trustee properly declined to pursue the equitable subordination claim, the bankruptcy court properly prohibited the Committee from bringing that same claim.)
In re Official Cmte. of Unsecured Creditors, 453 F.3d 225 (4th Cir. June 27, 2006) (Bankruptcy court has power to recharacterize an allowed claim as equity rather than debt, even in the absence of inequitable conduct by the claimant.)
In re American Wagering, Inc., 465 F.3d 1048 (9th Cir. June 28, 2007) (A claim for nonpayment of services provided to the debtor could not be subordinated as a claim for damages arising from a purchase or sale of security pursuant to S 510(b), even though the compensation for the services was based on the debtor's stock price.)
In re American Wagering, 465 F.3d 1048 (9th Cir. Oct. 6, 2006) (A claim for nonpayment of services provided to the debtor could not be subordinated as a claim for damages arising from a purchase or sale of security pursuant to S 510(b), even though the compensation for the services was based on the debtor's stock price.)
Rombro v. Dufrayne (In re Med Diversified, Inc.), 461 F.3d 251 (2d Cir.
