U.S. Code » Title 11 » Chapter CHAPTER 7— LIQUIDATION › Subchapter SUBCHAPTER III— STOCKBROKER LIQUIDATION

11 U.S.C. § 753

Stockbroker liquidation and forward contract merchants, commodity brokers, stockbrokers, financial institutions, financial participants, securities clearing agencies, swap participants, repo participants, and master netting agreement participants

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Notwithstanding any other provision of this title, the exercise of rights by a forward contract merchant, commodity broker, stockbroker, financial institution, financial participant, securities clearing agency, swap participant, repo participant, or master netting agreement participant under this title shall not affect the priority of any unsecured claim it may have after the exercise of such rights.

Notes of Decisions
Cited in 20 cases, 1962–1990 · leading case: Washington Med. Ctr., Inc. v. Holle, 573 A.2d 1269 (D.C. 1990).
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Washington Med. Ctr., Inc. v. Holle, 573 A.2d 1269 (D.C. 1990). “; 11 U.S.C. § 753 . During the period between the filing of the petition and the debtor’s decision to reject or affirm, however, the lessor occupies “an equivocal position.”
Fed.'s, Inc. v. Edmonton Inv. Co., 555 F.2d 577 (6th Cir. 1977). “If the petition to modify is granted, Edmonton could seek damages for a rejected executory contract under 11 U.S.C. § 753 . 4 . Collier’s interpretation, although relying on statutory construction, could be viewed as an attempt to further define the term “unexpired leases of…”
Van Dyk Rsch. Corp. v. SCM Corp. (In Re Van Dyk Rsch. Corp.), 13 B.R. 487 (Bankr. D.N.J. 1981). · cites it 2× “Since rejection of an executory contract makes a person injured thereby a creditor, and gives him a provable claim for any damages suffered, under § 353, 11 U.S.C. § 753 , and Bankruptcy Rule 11-33(b), the disadvantages of keeping the contract in force must be viewed in light of…”
In the Matter of Halux, Inc., D/B/A Midwestern Cultured Marble, Inc., Debtor. Nw. Nat'l Bank of St. Paul v. Halux, Inc., 665 F.2d 213 (8th Cir. 1981). “11 U.S.C. § 753 . 9 Collier on Bankruptcy ¶ 7.”
In re Danrik, Ltd., 92 B.R. 964 (Bankr. N.D. Ga. 1988). “§ 602 ; Bankruptcy Act § 353, 11 U.S.C. § 753 ; Bankruptcy Act § 458, 11 U.”
Fed.'s, Inc. v. Edmonton Inv. Co., 404 F. Supp. 68 (E.D. Mich. 1975). · cites it 2× “Any person injured by the rejection of an executory contract is deemed a “creditor,” 11 U.S.C. § 753 , whose claim may be filed within such time as the court may direct, 11 U.”
In the Matter of the Plywood Co. of Pennsylvania, the Plywood Co. of Pennsylvania, Debtor, 425 F.2d 151 (3d Cir. 1970). “§ 103 , 11 U.S.C. § 753 ), do not authorize a landlord who has provided for liquidated damages in the event of bankruptcy to obtain additional damages.”
Massachusetts Mut. Life Ins. v. Good Hope Indus., Inc. (In Re Good Hope Indus., Inc.), 16 B.R. 702 (Bankr. D. Mass. 1982). “The debtor has filed this motion for summary judgment contending that section 353 of the Bankruptcy Act, 11 U.S.C. § 753 , supplemented by decisions of the United States Supreme Court, defines the formula for determining the amount in damages to which Mass.”
U. S. Metal Prods. Co. v. United States, 302 F. Supp. 1263 (E.D.N.Y. 1969). “When this occurs any person injured by the rejection is deemed a creditor for the purpose of Section 353 2 of the Act ( 11 U.S.C.A. § 753 ) and as such is entitled to file a claim and to receive notice of his right to participate in discussions relative to the formulation and…”
Third Nat'l Bank v. Winner Corp., 29 B.R. 383 (M.D. Tenn. 1982). “Section 353 of the Bankruptcy Act, 11 U.S.C. § 753 , states the formula for determination of maximum damages when a lease has been rejected under bankruptcy.”
Fernandes Supermarkets, Inc. v. Vazza (In Re Fernandes Supermarkets, Inc.), 1 B.R. 249 (Bankr. D. Mass. 1979). “Because section 353 of the Bankruptcy Act, 11 U.S.C. § 753 , limits á claim for damages to an amount not to exceed the amount of rent reserved in the lease for the three years following surrender of the premises, the parties have agreed that the maximum damages recoverable for…”
DH Overmyer Co. v. Irving Trust Co., 60 B.R. 391 (S.D.N.Y. 1986). “THE LAW Section 353 of the Bankruptcy Act, 11 U.S.C. § 753 (repealed), 5 provides a limitation of damages for landlords’ claims based on rejected unexpired leases.”
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