rue21, inc., In re
Sep
08
2017
Ruling
Court concluded that the safe harbor provision of section 546(e) operated as a completedefense to state-law avoidance claims and constructive claims alleged by the committee ofunsecured creditors. (Bankr. W.D. Pa.)
Issue(s)
Limitations on Avoiding Powers; Margin or Settlement Payments.
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Court
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In re TVGA Eng'g, Surveying, PC
Dec
01
2016
Ruling
Safe harbor does not apply to payee where debtor’s bank was merely a substitute for cash.(Bankr. W.D.N.Y.)
Issue(s)
Limitations on Avoiding Powers; Margin or Settlement Payments.
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Court
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FTI Consulting, Inc. v. Merit Mgmt. Grp., LP
Jul
28
2016
Ruling
The safe harbor provision does not protect transfers conducted through a financial institutionas a conduit. (7th Cir.)
Issue(s)
Whether the safe harbor under 11 U.S.C.S. § 546(e) from avoidance of certain transfers by a bankruptcy trustee protected transfers that were simply conducted through financial institutions and other named entities, where the entity was neither the
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:
Judge or Jurisdiction information not available
Weisfelner v. Fund 1 (In re Lyondell Chem. Co.)
Jul
20
2016
Ruling
Trustee’s claims against debtor’s former shareholders were covered by the safe harborprovision. (Bankr. S.D.N.Y.)
Issue(s)
Should trustee’s claims against debtor’s former shareholders be stayed or dismissed?
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Court
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Deutsche Bank Trust Co. Ams. v. Large Private Beneficial Owners (In re Tribune Co. Fraudulent Conveyance Litig.)
Mar
29
2016
Ruling
Transfers were made to financial intermediaries as settlement payments in a securities transaction or is a transfer in connection with a securities contract and were protected from avoidance.
Issue(s)
Whether unsecured creditors are barred by the Bankruptcy Code's automatic stay provision from bringing state law, constructive fraudulent conveyance claims while avoidance proceedings against the same transfers brought by a party exercising the powers of a bankruptcy trustee on an intentional fraud theory are ongoing and, if not, whether the creditors' state law, constructive fraudulent conveyance claims are preempted by section 546(e).
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Court
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Judge or Jurisdiction information not available
Buchwald Capital Advisors LLC v. Papas (In re Greektown Holdings LLC)
Nov
24
2015
Ruling
Wire transfers that were settlement payments made by or to a financial institution in connection with a securities contract could not be avoided.
Issue(s)
Were allegedly constructively fraudulent wire transfers avoidable or were they protected from avoidance by the § 546(e) safe harbor provision for settlement payments made by or to a financial institution in connection with a securities contract?
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Court
:
In re Hellas Telecomms. (Lux.) II SCA
Mar
09
2015
Ruling
Unjust enrichment claim not barred by the safe harbor provision of § 546(e).
Issue(s)
Did the safe harbor provision of § 546(e) bar unjust enrichment claims?
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Court
:
In re Bernard L. Madoff Inv. Sec. LLC
Dec
08
2014
Ruling
Trustee for debtor Ponzi scheme operator was prohibited from recovering payments made to customers who withdrew more than they invested.
Issue(s)
Were payments received by customers of the Madoff Ponzi scheme, who withdrew more from their accounts than they had invested, protected from avoidance as transfers made by a stockbroker "in connection with a securities contract" or "settlement payments?"
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Court
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Judge or Jurisdiction information not available
Grede v. FCStone LLC
Mar
19
2014
Ruling
Prepetition transfer to investor was made in connection with a securities contract and was protected from avoidance by the safe harbor provision.
Issue(s)
Could debtor investment management firm's prepetition transfer of assets to one customer group at the expense of another be avoided?
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Court
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Judge or Jurisdiction information not available
Woodard v. PSEG Techs. Asset Mgmt. Co. LLC (In re Tougher Indus.)
Oct
10
2013
Ruling
Safe harbor provision applied to payments made by debtor in settlement of leveraged buy out of debtor's predecessor.
Issue(s)
Whether transferees were entitled to summary judgment on complaint emanating from a prepetition leveraged buyout (LBO) of debtor's predecessor in which a chapter 11 trustee sought to avoid and recover, as fraudulent conveyances, the buyout payments made to transferees for debtor's stock.
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Court
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