IN RE SOUTHEAST BANKING CORP.

No. 97-4436.

179 F.3d 1307 (1999)

In re: SOUTHEAST BANKING CORPORATION, Debtor. Chemical Bank, as Indenture Trustee under the Indenture, dated as of March 1, 1983, of Southeast Banking Corporation, and Gabriel Capital, L.P., Plaintiffs-Appellants, v. First Trust of New York, National Association, as Indenture Trustee, The Bank of New York, as Indenture Trustee, and Southeast Banking Corporation, Debtor, Defendants-Appellees.

United States Court of Appeals, Eleventh Circuit.

Rehearing Denied August 23, 1999.


Attorney(s) appearing for the Case

David C. Cimo, Sarah L. Reid, Kelley Drye & Warren LLP, Paul J. McMahon, Miami, FL, for Plaintiffs-Appellants.

David Friedman, David Rosner, Kasowitz, Benson, Torres & Friedman LLP, New York City, for Gabriel Capital, L.P.

Mark David Bloom, Elliott H. Scherker, Greenberg, Traurig, Hoffman, Miami, FL, for Defendants-Appellees.

Daniel S. Pearson, Craig V. Rasile, Holland & Knight, LLP, Miami, FL, Kenneth N. Klee, James O. Johnston, Jr., Isaac M. Pachulski, Los Angeles, CA, for First Trust of New York, National Association, as Indenture Trustee.

Before EDMONDSON and BIRCH, Circuit Judges, and FAY, Senior Circuit Judge.


BIRCH, Circuit Judge:

We summarize briefly the facts surrounding this bankruptcy proceeding.1 Southeast Banking Corporation ("Southeast") filed a voluntary bankruptcy petition pursuant to Chapter 7 of the Bankruptcy Code on September 20, 1991. Appellant, The Chase Manhattan Bank ("Chase"), formerly Chemical Bank, is the indenture trustee (the "Senior Trustee") under an indenture agreement, pursuant...

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