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Cadwalader Client & Friends Memo: S.D.N.Y. Bankruptcy Court Continues to Construe Bankruptcy Code’s Safe Harbor Provisions Narrowly

In two recent decisions, the United States Bankruptcy Court for the Southern District of New York has interpreted narrowly certain of the Bankruptcy Code's safe harbor provisions. Last month, Judge James M. Peck ruled that a payment subordination provision in a swap agreement triggered by a...

Judge Rakoff Squeezes Strike Zone for Madoff Trustee

Judge Jed S. Rakoff last week largely sided with Fred Wilpon and Saul Katz, the owners of the New York Mets , and their families and affiliated enterprises (the "Wilpon/Katz Group") on their motion to dismiss the adversary proceeding brought by Irving Picard, the trustee of Bernard L....

National Conference of Bankruptcy Judges--10/14/11--The Long and the Short of It

The Long and Short of It: Financial Engineering Meets Chapter 11 was one of the more esoteric presentations at the conference with an unusual lineup of panelists. The group included New York Bankruptcy Judge James Peck, investment banker David Barse, Professor Edward Janger, Dr. Riz Mokal from the...

James M. Lawniczak on the Applicability of Section 546(e)'s Safe Harbor to Payments Made in Ponzi Schemes

Suits stemming from Ponzi schemes have been on the rise. Victims of Ponzi schemes often face the prospect of actions by trustees to recover distributions made during the life of the scheme. This Emerging Issues Analysis examines the applicability of the safe harbor defense of Bankruptcy Code section...