Lehman Bros. Holdings v. JPMorgan Chase Bank (In re Lehman Bros. Holdings)

Ruling: 
Preference period transfers to debtor's principal clearing bank were within safe harbor protection.
Procedural posture: 
Defendant commercial bank sought to dismiss an amended complaint by plaintiff debtors in which they sought to recover funds transferred to defendant in the period immediately prior to debtors' chapter 11 filings on the ground that those transfers were recoverable under 11 U.S.C. § 547, 11 U.S.C. § 548 or other like provisions. The central issue was the extent to which 11 U.S.C. § 546 immunized defendant against such liability.
Issue: 
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Commercial case opionion summary, case decided on April 19,2012, LexisNexis #0512-087