“Clearing & Settlement” Exception to Trustee’s Avoiding Powers Saves Only Payments “To” (not “Through”) Market Intermediaries

Last week, the unanimous Supreme Court clarified that the “clearing and settlement” exception to a bankruptcy trustee’s avoiding powers covers only payments “to,” not merely through, financial market participants.

Filed under:
USA, Capital Markets, Insolvency & Restructuring, Litigation, Burr & Forman LLP, Credit Suisse, Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 (USA), Supreme Court of the United States
Authors:
Thomas K. Potter, III
Location:
USA
Firm:
Burr & Forman LLP