Private Antitrust Actions Are Not Exempt From Bankruptcy Code’s Automatic Stay Provisions
Law360, New York (November 15, 2006, 12:00 AM EST) -- In Adelphia Communications Corp. v. America Channel LLC (In re Adelphia Communications Corp.), the United States Bankruptcy Court for the Southern District of New York considered whether litigants in private antitrust actions are exempt from the provisions of section 362(a)(3) of the Bankruptcy Code, the provision of the Code which stays actions that may adversely affect property of the debtor’s bankruptcy estate.
The court held that litigants in private antitrust actions are not exempt from the “automatic stay” provisions of section 362(a)(3) of the Bankruptcy Code....
Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.