The Second Circuit holds that the presumption against extraterritoriality and international comity do not bar recovery of purely foreign transfers.
Key Points:
..The Second Circuit focused on the initial transfer from...more
3/7/2019
/ Asset Transfer ,
Bankruptcy Code ,
Bernie Madoff ,
Clawbacks ,
Comity ,
Extraterritoriality Rules ,
Feeder Funds ,
Foreign Investment ,
Liquidation ,
Non-US Feeder Funds ,
Ponzi Scheme
In re Madoff Securities Extends Morrison Framework to Prevent Avoidance of Purely Foreign Transfers under SIPA and the Bankruptcy Code -
Applying the U.S. Supreme Court’s landmark decision in Morrison v. National...more