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
Fifth Circuit finds that make-whole premiums should be considered unmatured interest subject to disallowance under Section 502(b)(2) of the Bankruptcy Code to the extent designed to compensate for future interest...more
Possible application of Section 101(22)(A) to safe harbor’s covered entity requirement raises important questions for future transferee defendants.
Key Points:
..Merit Management raises the possibility that customers of...more
4/13/2018
/ Avoidance ,
Bankruptcy Code ,
Chapter 11 ,
Commercial Bankruptcy ,
Covered Entities ,
Financial Institutions ,
Fraudulent Transfers ,
Intracompany Transferees ,
Merit Management Group v FTI Consulting ,
Publicly-Traded Companies ,
Safe Harbors ,
SCOTUS ,
Section 546(e) ,
Securities
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