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Federal Courts -
3rd Circuit Court of Appeals - March 20, 2007
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In re Insilco Techs., Inc., No. 06-2162,
UNITED STATES COURT OF APPEALS FOR THE THIRD CIRCUIT, March 20, 2007, Opinion Filed
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Overview: By agreeing that certain loans were allowable claims under 11 U.S.C.S. § 502, debtors and creditors' committee necessarily agreed that the loans were true loans; thus, under the settlement agreement, the action of trustee for recharacterization was barred. Likewise, the agreement prohibited 11 U.S.C.S. § 510(c)(1) equitable subordination actions.
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