The United States Court of Appeals for the Seventh Circuit, on March 19, 2014, held that a corrupt debtor's pre-bankruptcy cash transfer to a commodity broker was a “settlement payment” made “in connection with a securities contract,” thus falling “within [Bankruptcy Code] ' 546(e)'s safe harbor” and insulating the transfer from the trustee's preference claim.
Seventh Circuit Reads Bankruptcy Safe Harbor Broadly
An in-depth look at a recent Seventh Circuit ruling on the "safe harbor."
By
Michael L. Cook
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