2nd Circ. Securities Transfer Safe Harbor Ruling To Stand

Law360, New York (February 24, 2014, 2:54 PM EST) -- The U.S. Supreme Court on Monday declined to take up an appeal of a Second Circuit ruling that securities transfers may qualify for safe harbor from avoidance actions under the Bankruptcy Code even if the financial institution involved in the transfer is “merely a conduit.”

In its usual fashion, the high court denied without comment the Official Committee of Unsecured Creditors of Quebecor World Inc.'s petition for writ of certiorari in its appeal of a Second Circuit ruling affirming the dismissal of $376 million suit brought...
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