3rd Circ. Sheds Light On Insider Status In Bankruptcy

Law360, New York (September 30, 2014, 10:38 AM EDT) -- Insider status in U.S. bankruptcy carries with it significant burdens. Insiders face a one-year preference exposure rather than the 90-day period applicable to noninsiders, insiders are by definition disinterested persons and may not be retained to provide professional services and transactions among debtors, and insiders are subject to heightened scrutiny under the entire fairness doctrine....

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