Deep Rock doctrine

Deep Rock doctrine
A principle in bankruptcy law by which unfair or inequitable claims presented by controlling shareholders of bankrupt corporations may be subordinated to claims of general or trade creditors. The doctrine received its name from the corporate name of the subsidiary involved in the leading case articulating the doctrine. Taylor et al. v. Standard Gas & Electric Co. et al., 306 U.S. 307, 59 S.Ct. 543, 83 L.Ed. 669

Black's law dictionary. . 1990.

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