On December 19, 2019, the Second Circuit held that appellants’ state law constructive fraudulent transfer claims were preempted by virtue of the Bankruptcy Code’s safe harbors that exempt transfers made in connection with a...more
3/4/2020
/ Automatic Stay ,
Bankruptcy Code ,
Commercial Bankruptcy ,
Financial Institutions ,
Fraudulent Conveyance ,
Fraudulent Transfers ,
Leveraged Buyout ,
Merit Management Group v FTI Consulting ,
Motion for Relief from Automatic Stay ,
Preemption ,
Safe Harbors ,
Section 546(e) ,
Stock Repurchases ,
Trustees
On February 25, 2019, the United States Court of Appeals for the Second Circuit issued a decision holding that a trustee is not barred by either the presumption against extraterritoriality or by international comity...more
4/8/2019
/ Appeals ,
Bankrtupcy Code Section 550 ,
Bankruptcy Code ,
Bernie Madoff ,
Comity ,
Extraterritoriality Rules ,
Feeder Funds ,
Foreign Entities ,
Foreign Investment Fund ,
Fraudulent Transfers ,
Insolvency ,
Ponzi Scheme ,
Trustees
Section 546(e) of the Bankruptcy Code shields certain transfers involving settlement payments and other payments in connection with securities contracts (for example, payment for stock) made to certain financial...more
3/7/2018
/ Avoidance ,
Bankruptcy Code ,
Chapter 11 ,
Commercial Bankruptcy ,
Financial Institutions ,
Fraudulent Transfers ,
Intermediaries ,
Merit Management Group v FTI Consulting ,
Safe Harbors ,
SCOTUS ,
Section 546(e) ,
Split of Authority
United States Bankruptcy Court for the District of Delaware Holds That Litigation Trustee May Pursue State Law Fraudulent Conveyance Claims, Notwithstanding Bankruptcy Code Safe Harbors -
On June 20, 2016, the United...more
The Bankruptcy Code contains “safe harbors” that, among other things, exempt transfers made in connection with certain financial contracts, including securities contracts, from avoidance by the bankruptcy trustee as...more
On January 4, 2016, the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) deviated from SDNY precedent and held that, despite the absence of clear Congressional intent, the...more