Creditors Lose Bid To Move Up $6.7M MarketXT Claim

Law360, New York (September 24, 2009, 1:07 PM EDT) -- A federal appeals court has affirmed a lower court's ruling against two men fighting the subordination of their $6.7 million claim against bankrupt securities trading service provider MarketXT Holdings Corp.

The U.S. Court of Appeals for the Second Circuit affirmed a decision by the U.S. District Court for the Southern District of of New York, which upheld a bankruptcy court's ruling that Kevin Waltzer and Stewart Grossman's claims for damages against debtor MarketXT were subject to mandatory subordination, according to an unpublished opinion issued Sept. 22....
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