Bank of America National Trust and Savings Association v. 203 North Lasalle Street Partnership

Decided May 3, 1999. David Hackett Souter delivered the opinion of the Court.

Docket 97-1418 · 526 U.S. 434 (1999) · Cited 353 times

Holding

A debtor’s prebankruptcy equity holders may not, over the objection of a senior class of impaired creditors, contribute new capital and receive ownership interests in the reorganized entity, when that opportunity is given exclusively to the old equity holders under a plan adopted without consideration of alternatives.

The Court’s statement of the holding, from the opinion’s syllabus. The syllabus is prepared by the Reporter of Decisions and is not part of the opinion of the Court — read the official opinion for authority.

How the Justices voted

Decided 8–1.

“Concurring” means agreeing with the outcome; any split shown is the Court’s judgment, not each Justice’s reasoning. Source: the Supreme Court Database (Spaeth et al.), Washington University.

Precedents cited

Supreme Court decisions this opinion relies on, ordered by how often it cites each. Cases in our collection link through; others are named.

• Case v. Los Angeles Lumber Products Co. · 308 U.S. 106 (1939)
• Norwest Bank Worthington v. Ahlers · 485 U.S. 197 (1988)
• Dewsnup v. Timm · 502 U.S. 410 (1992)
• U.S. Bancorp Mortgage Co. v. Bonner Mall Partnership · 513 U.S. 18 (1994)
• Kansas City Terminal Railway Co. v. Central Union Trust Co. · 271 U.S. 445 (1926)
• United States v. Ron Pair Enterprises, Inc. · 489 U.S. 235 (1989)
• Immigration & Naturalization Service v. Cardoza-Fonseca · 480 U.S. 421 (1987)
• Connecticut National Bank v. Germain · 503 U.S. 249 (1992)
• Russello v. United States · 464 U.S. 16 (1983)
• United States v. Menasche · 348 U.S. 528 (1955)
• Cohen v. De La Cruz · 523 U.S. 213 (1998)
• Midlantic National Bank v. New Jersey Department of Environmental Protection · 474 U.S. 494 (1986)
• Moskal v. United States · 498 U.S. 103 (1990)
• Toibb v. Radloff · 501 U.S. 157 (1991)
• Union Bank v. Wolas · 502 U.S. 151 (1991)
• Consolidated Rock Products Co. v. Du Bois · 312 U.S. 510 (1941)
• Louisville Trust Co. v. Louisville, New Albany & Chicago Railway Co. · 174 U.S. 674 (1899)
• United States v. Estate of Romani · 523 U.S. 517 (1998)

Cited by

Later Supreme Court opinions in our collection that cite this case.

• Florida Department of Revenue v. Piccadilly Cafeterias, Inc. · 554 U.S. 33 (2008)
• Till v. SCS Credit Corp. · 541 U.S. 465 (2004)
• Czyzewski v. Jevic Holding Corp. · 580 U.S. 451 (2017)
• Truck Insurance Exchange v. Kaiser Gypsum Co. · 602 U.S. 268 (2024)
• Rousey v. Jacoway · 544 U.S. 320 (2005)

Official text

Read the official opinion (U.S. Reports, govinfo.gov)

Explore from here

David Hackett Souter’s profile · All Supreme Court opinions · The Supreme Court

Source: Supreme Court of the United States, slip opinions (1999). Citation count from the Free Law Project’s CourtListener bulk data. Data last verified 2026-07-03. Informational only; verify against the primary source before relying. Not a consumer report (FCRA).