Enron Case Provides Lesson On Distressed Claims

Law360, New York (October 15, 2007, 12:00 AM EDT) -- Organizations that acquire claims in bankruptcy should acquire such claims by a sale without knowledge of the debtors’ claims against the original holder or prior transferees, and obtain an indemnification from the transferor of such claims.

On August 27, 2007, the U.S. District Court for the Southern District of New York issued an important ruling relating to the Chapter 11 cases of Enron Corporation, et al. The Court vacated a decision of the U.S. Bankruptcy Court for the Southern District of New York and held that...
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