Private Antitrust Actions Are Not Exempt From Bankruptcy Code’s Automatic Stay Provisions
November 15, 2006, 12:00 AM EST
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 and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.