A Plain Language Reading Of Section 106(a)(1)

Law360, New York (February 11, 2013, 7:27 PM EST) -- Does the Internal Revenue Service enjoy sovereign immunity against fraudulent transfer claims brought pursuant to section 544(b) of the Bankruptcy Code? Recently, in United States v. Equipment Acquisition Resources Inc., the United States District Court for the Northern District of Illinois (J. Chang) held that it does not.[1]

The court applied section 106(a)(1) of the Bankruptcy Code, the so-called “anti-sovereign-immunity provision,” under which the defense of sovereign immunity is not available with respect to certain rights and powers granted by the Bankruptcy Code. According to the...
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