Banking,
Bankruptcy,
U.S. Supreme Court
Mar. 8, 2018
Ruling clarifies avoidance powers of bankruptcy trustees
In a unanimous decision, the U.S. Supreme Court has added considerable clarity surrounding the avoidance powers of bankruptcy trustees everywhere.
Neal S. Salisian
Founding Partner
Salisian Lee LLP
Phone: 213-622-9100
Email: neal.salisian@salisianlee.com
USC Law School; Los Angeles CA
OCTOBER 2017 TERM
In a unanimous decision, the U.S. Supreme Court has added considerable clarity surrounding the avoidance powers of bankruptcy trustees everywhere. In its rejection of the statutory interpretation previously espoused by the 2nd, 3rd, 6th, 8th and 10th U.S. Circuit Courts of Appeals, the court narrowly construed an exemption to those powers, holding that use of a bank as an escrow agent does not shield a transaction from being ...
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