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Enron Ruling Prevents Debt Market Havoc: Judge

Law360 (August 28, 2007, 12:00 AM EDT) -- A New York judge has overturned a bankruptcy court's order in the Enron Corp. case, ruling that institutions which purchase claims against a bankrupt company from sellers who engaged in inequitable conduct may still recover those claims without penalty.

Judge Shira A. Scheindlin of the Southern District of New York on Monday vacated and remanded a bankruptcy court order which dismissed Springfield Associates LLC and intervenor Citibank NA's attempt to stop Enron from eliminating Springfield's claims. Bankruptcy Judge Arthur Gonzalez had ruled that Springfield's claims could...
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