United States First Circuit

The Rule of Explicitness has no application in the context of bankruptcy where, as here, the state has not adopted the rule as one of general applicability. Applying generic principles of state law, the subordination provisions at issue are ambiguous as to whether they provide for the priority payment of post-petition interest; vacated and remanded for an examination of the intent of the parties.

Appellate Information

• Decided 04/13/2004
• Published 04/13/2004

Judges

• SELYA, Circuit Judge., Before SELYA, Circuit Judge, COFFIN, Senior Circuit Judge, and SMITH, District Judge.

Court

• United States First Circuit

Counsel

• For Appellant:
  
• Douglas B. Rosner, with whom Goulston & Storrs, Sarah L. Reid, Joseph N. Froehlich, Kelley Drye & Warren LLP, David S. Rosner, Daniel N. Zinman, and Kasowitz, Benson, Torres & Friedman LLP were on brief, for appellants.


• For Appellees:
  
• Robin Russell, with whom Hugh M. Ray and Andrews Kurth LLP were on brief, for appellee Branch., Patrick J. McLaughlin, with whom Katherine A. Constantine, Monica L. Clark, Dorsey & Whitney LLP, Dianne F. Coffino, and Dewey Ballantine LLP were on brief, for remaining appellees.