In Re Montgomery Ward Holding Corp.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that plain language of statute limits subordination to claims that involve actual sale of the stock
• holding that a claim arises from the purchase or sale of a security only if there is “an allegation of fraud in the purchase, sale or issuance of the ... instrument”
• “[T]he critical causal nexus . . . [is] not simply the claim’s origin as one based on the claimant’s status as a former stockholder.”
• “[T]he critical causal nexus in these cases is the alleged illegal or fraudulent conduct, not simply the claim’s origin as one based on the claimant’s status as a former stockholder.”

Source: CourtListener parenthetical corpus (CC0).