Upic & Co. v. Kinder-Care Learning Centers, Inc.

How courts have described this case

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

• noting that section 316(b) was motived by the SEC’s concerns “about the motivation of insiders and quasi-insiders to destroy a bond issue through insider control”
• explaining that the legislative history “tends to evince Congress’ intent to have Section 316(b) interpreted so as to give effect to the absolute and unconditional nature of the right to payment it affords a Securityholder”
• construing a subordination provision as consistent with Section 316(b) and an indenture clause with “absolute and unconditional” language
• “[T]he legislative history of Section 316(b) ... tends to evince Congress’ intent to have Section 316(b) interpreted so as to give effect to the absolute and unconditional nature of the right to payment it affords a Securityholder.”

Source: CourtListener parenthetical corpus (CC0).