Detroit Judge Criticizes the Second Circuit’s Tribune Decision on the Safe Harbor
The Supreme Court is considering whether to review another case defining the safe harbor in Section 546(e).
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Bankruptcy Code
Bankruptcy Code
The 2005 Amendments to Section 546(c) Limited the Remedies of Reclamation Creditors
Reclamation creditors no longer have liens or administrative claims if a secured lender sucks up all the value in reclaimed goods.
New York Decision Shows that Merit Management Is a Dead Letter
The expansive definition of a ‘financial institution’ allows fraudulent transfers to be structured so that no one will ever be held liable.
Beware: Closing a Case Quickly Can Preclude Filing New Avoidance Actions
Judge Thuma describes nonstatutory exceptions to the statutes of limitations in Sections 546(a) and 550(f).
Two-Year Statute for Avoidance Actions Doesn’t Apply to Claim Objections
Even if the two-year statute of limitations for avoidance actions has run, the trustee can still strip away the lender’s secured status in a claim objection.
Seventh Circuit: Reclamation Claims Are Subordinate to DIP Financing
The 2005 amendments to Section 546(c) departed from state law under UCC § 2-702 by creating a federal rule making reclamation claims subordinate to existing secured claims and DIP financing.