News & Analysis as of

Creditors Preemption

Holland & Knight LLP

Delaware Bankruptcy Court Grants Creditors' Committee of Debtor LLC Derivative Standing

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In a recent opinion, In re Pack Liquidating, LLC (Pack Liquidating), the U.S. Bankruptcy Court for the District of Delaware held that under Official Committee of Unsecured Creditors of Cybergenics Corp. v. Chinery...more

Kaufman & Canoles

Credit Union Client Alert - September 2023

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In a recently published opinion by Fourth Circuit Judge Quattlebaum, Jr., the majority of the panel found there to be a genuine dispute of material fact in Plaintiff Mark Anthony Guthrie’s North Carolina Debt Collection Act...more

Dechert LLP

Second Circuit Paves a Way to Protect LBO Payments from Avoidance Actions 

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The Second Circuit Court of Appeals recently held in In re Tribune Company Fraudulent Conveyance Litigation, No. 13-3992-cv (L) (2d Cir., Dec. 19, 2019) that Bankruptcy Code Section 546(e) barred claims seeking to avoid...more

Alston & Bird

Bankruptcy & Financial Restructuring/Finance Advisory: Second Circuit Rejects Potential Loophole in the Securities Contract Safe...

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The Second Circuit Court of Appeals recently held that the “safe harbor” protections for securities contracts in Section 546(e) of the Bankruptcy Code prevented individual creditors’ state law constructive fraudulent transfer...more

Mintz - Bankruptcy & Restructuring Viewpoints

Tranquil Waters Once Again in the Safe Harbor: Bankruptcy Safe Harbor Protects Shareholders From State Constructive Fraud Claims

Shareholders who received nearly $8 billion from the Tribune Company leveraged buyout (LBO) do not have to give back that money as a constructive fraudulent transfer. Although the possibility remains that the creditors can...more

Latham & Watkins LLP

Ever-Expanding Safe Harbor Leaves Creditors’ Claims Stranded at Sea

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Second Circuit holds that Bankruptcy Code preempts creditors’ state law constructive fraud claims. On March 29, 2016, the Second Circuit issued its opinion in In re Tribune Company Fraudulent Conveyance Litig.,...more

Womble Bond Dickinson

Creditors Can Reach Benefits under "Top Hat" Plan, United States District Court of Maryland Rules

Womble Bond Dickinson on

Executive Summary: ERISA “top hat” plan’s anti-alienation provision does not trump state garnishment laws. A familiar feature of ERISA is its protection of a participant’s retirement savings from creditors; ERISA...more

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