Second Circuit Decision in Enron Affirms That Bankruptcy Code Safe Harbor Applies to Pre-Maturity Commercial Paper Payments

On June 28, 2011, the Second Circuit Court of Appeals decided Enron Creditors Recovery Corp. v. Alfa, S.A.B. de C.V., ING VP Balanced Portfolio, Inc., and ING VP Bond Portfolio, Inc., providing further assurance to investors in commercial paper that their secondary market transactions in the paper of a distressed issuer will not be unwound. Click here for more..