Posts in Bankruptcy Code.
Last week, the unanimous Supreme Court clarified that the "clearing and settlement" exception to a bankruptcy trustee's avoiding powers covers only payments "to," not merely through, financial market participants.
The Bankruptcy Code provides trustees with various avoiding powers, including the ability to recoup for the estate actual or fraudulent transfers, under 11 U.S.C. § 548(a) (1). The Code also provides a number of exceptions to the trustee's avoiding powers, including some designed to protect the integrity of the clearing and settlement processes of the nation's ...
Posted in: Bankruptcy Code