Securities, Fraudulent Transfers

Notice of Appeal - A quarterly newsletter reviewing Third Circuit opinions impacting white collar defense lawyers - Fall 2023

Cozen O'Connor on 10/11/2023

BACKGROUND- A sugar distributor sought to acquire a sugar producer. The district court determined that the relevant product market included distributors as sources of refined sugar, in addition to sugar producers. The...more

Second Circuit Breathes New Life Into Conduct And Effects Test

Jones Day on 10/9/2019

The Situation: Since the Supreme Court decided Morrison v. National Australia Bank Ltd. ("Morrison") in 2010 and rejected the Second Circuit's "conduct and effects test," the Second Circuit has grappled with the issue of...more

Supreme Court’s Merit Management Ruling Highlights Potential Alternative Path to Safe Harbor

Latham & Watkins LLP on 4/13/2018

Possible application of Section 101(22)(A) to safe harbor’s covered entity requirement raises important questions for future transferee defendants. Key Points: ..Merit Management raises the possibility that customers of...more

Supreme Court to Resolve Circuit Split on Scope of 546(e)’s Safe Harbor Provision

Mintz - Bankruptcy & Restructuring Viewpoints on 5/15/2017

Earlier this month, the Supreme Court announced that it will review the scope of Bankruptcy Code section 546(e)’s safe harbor provision. Section 546(e) protects from avoidance those transfers that are made “by or to (or for...more

The World in US Courts: Orrick's Quarterly Review of Decisions Applying US Law to Global Business and Cross-Border Activities

Orrick, Herrington & Sutcliffe LLP on 2/28/2017

Alien Tort Statute (ATS)/Political Question Doctrine/Foreign Sovereign Immunity Act (FSIA)/ Act of State Doctrine - District Court Dismisses ATS Claim Where Alleged Conduct in US was not Directly Linked to Injuries...more

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

Alston & Bird on 4/14/2016

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