In re Fairfield Sentry Ltd.

Ruling: 
Foreign representative's motion to avoid sale of debtor's SIPA claim denied where foreign court had held sale valid.
Procedural posture: 
A foreign representative filed an application seeking an order under 11 U.S.C.S. §§ 105(A), 363, 1507(A), 1520(A)(2), and 1521(A) which invalidated a trade confirmation he entered on behalf of three investment funds ("debtors") to sell a claim the debtors filed in an action under the Securities Investor Protection Act ("SIPA"). An LLC that bought the claims opposed the application.
Issue: 
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Commercial case opionion summary, case decided on January 10,2013, LexisNexis #0213-032