Seventh Circuit Applies Safe Harbor to Private Securities Transaction

"… [T]he term 'securities contract' as used in [Bankruptcy Code] §546(e) unambiguously includes contracts involving privately held securities," The Seventh Circuit held in Petr v. BMO Harris Bank, N.A.

9 minute read April 01, 2024 at 12:11 AM

Michael L. Cook

Seventh Circuit Applies Safe Harbor to Private Securities Transaction

"… [T]he term 'securities contract' as used in [Bankruptcy Code] §546(e) unambiguously includes contracts involving privately held securities." Petr v. BMO Harris Bank, N.A., (In re BWGS, LLC), 2024 WL 113217, *6 (7^th Cir.

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