Some Can't Dock In Bankruptcy Code's 'Safe Harbor'

Law360, New York (July 27, 2012, 1:48 PM EDT) -- Section 546(e) of the Bankruptcy Code provides for, among other things, that certain settlement payments and securities payments defined in Section 101, 741 or 761 of the Bankruptcy Code are shielded from a bankruptcy trustee or debtor-in-possession’s avoidance powers under Sections 544, 545, 547, 548(a)(1)(B) and 548(b) of the Bankruptcy Code.[1]

With the recent wave of “clawback” litigation against creditors, a host of cases applying Section 546(e) of the Bankruptcy Code has arisen with the courts generally ruling in favor of the party asserting the Section...
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