Financial Groups Say U.S. Supreme Court Should Not Hear Bankruptcy Transfer Case

Financial Groups Say U.S. Supreme Court Should Not Hear Bankruptcy Transfer Case

WASHINGTON, D.C. - A group of insurance companies and financial institutions on Jan. 22 filed a brief in the U.S. Supreme Court arguing that it should not grant certiorari to an unsecured creditors committee that contends that 11 U.S. Code Section 546(e) permits it to recover transfers made by a debtor company to stockbrokers, financial institutions and other "qualified" entities (The Official Committee of Unsecured Creditors of Quebecor World (USA) Inc. v. American United Life Insurance Company, et al., No. 13-455, Chapter 11, U.S. Sup.).

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