SEC Sides With Barclays In Oil Trustee's $143M Fee Appeal

Law360, San Francisco (November 1, 2013, 9:34 PM EDT) -- The U.S. Securities and Exchange Commission on Thursday urged the Second Circuit not to revive a $143 million suit brought by creditors of formerly bankrupt petroleum company SemGroup LP against Barclays Bank PLC, arguing that doing so would undo key safe-harbor protections in the Bankruptcy Code.

SemGroup's litigation trustee, Bettina Whyte, appealed her case to the panel in July — arguing that she had the right to claw back a $143 million transfer entered before SemGroup went bankrupt — after a New York federal judge threw...
To view the full article, register now.




Case Information

Case Title

Whyte v. Barclays Bank PLC

Case Number



Appellate - 2nd Circuit

Nature of Suit


Date Filed

July 12, 2013

Law Firms


Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.