Sec. Investor Prot. Corp. v. Bernard L. Madoff Inv. Sec. LLC
Sep
22
2022
Ruling
Defendants who actually knew that debtor was running a Ponzi scheme were not entitled tothe protections of the safe harbor. (Bankr. S.D.N.Y.)
Issue(s)
Limitations on Avoiding Powers; Margin or Settlement Payments.
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Court
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BWGS, LLC, In re--Petr v. BMO Harris Bank, N.A.
Aug
18
2022
Ruling
Motion to dismiss avoidance proceeding denied as trustee pleaded the necessary elements forrecovery against the creditor under state law. (Bankr. S.D. Ind.)
Issue(s)
Limitations on Avoiding Powers; Margin or Settlement Payments.
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Court
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Samson Res. Corp., In re--Kravitz v. Samson Energy Co., LLC
Aug
04
2022
Ruling
Petition date rather than transfer date determines when a party is a financial participant withrespect to the application of the safe harbor to redemption cash transfers. (Bankr. D. Del.)
Issue(s)
Limitations on Avoiding Powers; Margin or Settlement Payments.
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Securities Inv. Prot. Corp. v. Bernard L. Madoff Inv. Sec. LLC
Jun
13
2022
Ruling
Safe harbor did not bar the avoidance of initial transfers given allegations that the feeder fundtransferee had actual knowledge that the debtor was not trading securities. (Bankr. S.D.N.Y.)
Issue(s)
Limitations on Avoiding Powers; Margin or Settlement Payments.
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Court
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Hebert, In re--Kaler v. Hebert
Apr
22
2022
Ruling
Debtor's discharge was denied due to failure to disclose potentially preferential paymentsmade to her son or to establish that the payments were paid in the ordinary course ofbusiness. (Bankr. D.N.D.)
Issue(s)
Limitations on Avoiding Powers; Margin or Settlement Payments.
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Judge or Jurisdiction information not available
Kelley v. Safe Harbor Managed Account 101, Ltd.
Apr
21
2022
Ruling
Transfers to feeder fund that qualified as a financial institution would be excepted fromavoidance if found to be made in connection with a securities contract on remand. (8th Cir.)
Issue(s)
Limitations on Avoiding Powers; Margin or Settlement Payments.
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Judge or Jurisdiction information not available
SunEdison, Inc., In re--SunEdison Litig. Trust v. Seller Note, LLC
Nov
02
2020
Ruling
Two-step transfer with securities ultimately being placed with collateral agent was protectedby the safe harbor from fraudulent transfer proceedings. (Bankr. S.D.N.Y.)
Issue(s)
Limitations on Avoiding Powers; Margin or Settlement Payments.
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Court
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Greektown Holdings, LLC, In re--Buchwald Capital Advisors, LLC v. Papas
Oct
19
2020
Ruling
Safe harbor provision did not bar trustee’s avoidance proceeding as neither party to thetransfer was a financial institution. (Bankr. E.D. Mich.)[1]-The safe harbor provision of 11 U.S.C. § 546(e) did not bar plaintiff's trustee's adversary proceedingseeking to avoid and recover pre-petition transfers from the debtor to defendants as fraudulent becausethe transfer the trustee sought to avoid was a 2005 transfer from the debtor to defendants, the 2005transaction fell outside of the § 546(e) safe harbor because neither the transferor (the debtor) or thetransferee (defendants) were a financial institution or other covered entity, defendants failed to establishthat the 2005 transaction was "for the benefit" of a financial institution, and defendants failed to provethat the debtor was deemed to be a "financial institution" under 11 U.S.C. § 101(22)(A).Greektown Holdings, LLC, In re--Buchwald Capital Advisors, LLC v. Papas, 2020 Bankr. LEXIS 2938 (Bankr. E.D.Mich. October 19, 2020) (Oxholm, B.J.).
Issue(s)
Limitations on Avoiding Powers; Margin or Settlement Payments.
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Judge or Jurisdiction information not available
Buchwald Capital Advisors, LLC v. Papas
Jan
23
2018
Ruling
Wire transfers were shielded from trustee's avoidance reach as transfers made by or to afinancial institution in connection with a securities contract. (E.D. Mich.)
Issue(s)
Limitations on Avoiding Powers; Margin or Settlement Payments.
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Court
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Buchwald Capital Advisors, LLC v. Papas
Jan
23
2018
Ruling
Wire transfers were shielded from trustee's avoidance reach as transfers made by or to afinancial institution in connection with a securities contract. (E.D. Mich.)
Issue(s)
Limitations on Avoiding Powers; Margin or Settlement Payments.
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Court
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