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For recommended contents of disclosure statements, see In re Malek, 35 B.R. 443 (Bankr. E.D. Mich. 1983); In re A.C. Williams Co., 25 B.R. 173 (Bankr. N.D. Ohio 1982). Although §§ 1125(d) & (e) exempt this disclosure from compliance with securities laws, it may not provide immunity from allegations of fraud or other securities laws. See, e.g., In re Public Service Company of New Hampshire, 43 F.3d 763 (1st Cir. 1995); Jacobsen v. AEG Capital Corp., 50 F.3d 1493 (9th Cir. 1995).
In re Clamp-All Corporation, 233 B.R. 198 (Bankr. D. Mass. 1999).
Century Glove v. First American Bank of New York, 860 F.2d 94 (3d Cir. 1988).
233 B.R. at 205.
Id. at 207-08.
The court noted that finding an appropriate remedy was even "more problematic." Id. at 209. After rejecting both contempt sanctions and disqualificaitons of the creditor's vote on the debtor's plan, the court concluded that the remedy best designed to rectify the wrong was to equitably subordinate the creditor's claims to all other noninsider unsecured claims, noting that "the court's expression of disapproval" of the creditor's interference "with a negotiation between the debtor and its credtors" "must be unequivocal." Id. at 211.
Century Glove v. First American Bank of New York, 860 F.2d 94 (3d Cir. 1988).
In re Texaco, Inc., 81 B.R. 813, 816 (Bankr. S.D.N.Y. 1988).
In re Figter Limited, 118 F.3d 635 (9th Cir. 1997); 225 Park Plaza Assoc. Ltd. Partnership v. Connecticut General Life Ins. Co., 100 F.3d 1214 (6th Cir. 1996)(dictum). See also Mabey v. Southwestern Elec. Power Co. (In re Cajun Elec. Power Coop., Inc.), 150 F.3d 503 (5 Cir. 1998)(payments by plan proponent were not improper buying of votes, especially when estate funds were not used, payments were disclosed and approved by the court); In re Lehigh Valley Prof'l Sports Clubs, Inc., 2001 Bankr. LEXIS 1230 (Bankr. E.D. Pa. 2001).
In re Dune Deck Owners Corp., 175 B.R. 839 (Bankr. S.D.N.Y. 1995). See also In re Landing Associates, Ltd., 157 B.R. 791 (Bankr. W.D. Tex. 1993).
Dune Deck, supra, n.13.
In re M. Long Arabians, 103 B.R. 211 (9th Cir. BAP 1989); In re Higgins Slacks Company, 178 B.R. 853 (Bankr. N.D. Ala. 1995); In re Townco Realty, Inc., 81 B.R. 707 (Bankr. S.D. Fla. 1987). Contra, In re Ruti-Sweetwater, Inc., 836 F.2d 1263 (10th Cir. 1988).
In re M. Long Arabians, 103 B.R. 211 (9th Cir. BAP 1989). Disputed claims may, however, either be temporarily allowed solely for purposes of voting or estimated pursuant to § 502(c) if the claim is "contingent or unliquidated," which are terms of art. In re Continental Air Lines, 981 F.2d 14550 (5th Cir. 1993); In re Rhead, 179 B.R. 169 (Bankr. D. Az. 1995).
In re Acequia, 787 F.2d 1352, 1358 (9th Cir. 1986); In re Texaco, Inc., 17 B.C.D. 222, 224 (Bankr.
S.D.N.Y. 1988); In re Prudential Energy Co., 58 B.R. 857, 862 (Bankr. S.D.N.Y. 1986); In re Toy & Sports Warehouse, Inc., 37 B.R. 141, 149 (Bankr. S.D.N.Y. 1984).
Heartland Fed. Sav. & L. Ass'n v. Briscoe Enterprises, Ltd. II, 994 F.2d 1160, 1164-65 (5th Cir.), cert. denied, 114 S. Ct. 550 (1993).
In re Ambanc La Mesa L. P., 115 F.3d 650 (9 Cir. 1997)
In re 203 North LaSalle Street Limited Partnership, 190 B.R. 567 (Bankr. N.D. Ill. 1995), aff'd, 126 th
F.3d 955(7 Cir. 1997), rev'd on other grounds, 119 S. Ct. 1411 (1999); In re Arnold and Baker Farms, 177 B.R. 648, 654 (9th Cir. BAP 1994), aff'd on other grounds, 85 F.3d 1415 (9th Cir. 1996); In re
