Awaiting 2nd Circ. Spin On Bankruptcy Claims Trading

Law360, New York (September 12, 2012, 1:25 PM EDT) -- The Second Circuit Court of Appeals recently heard arguments in a case that could have substantial implications for the trading of bankruptcy claims.

While the court could choose to resolve the case, Longacre Master Fund Ltd. v. ATS Automation Tooling Systems Inc., based on a straightforward analysis of New York contract law, it may also take the opportunity to consider the controversial claims trading case of Enron v. Springfield Associates decided several years ago by the district court for the Southern District of New York....
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