THE (NOT SO) SAFE HARBOR DEFENSE
Dealing with a financially distressed customer? Considering how to avoid a fraudulent transfer a claw-back in the customer were to seek bankruptcy protection? Some creditors have attempted to shield themselves from such actions by conducting the transfers through a financial institution. Well, not so fast. In the case of FTI Consulting, Inc. v. Merit Mgmt. […]
House Passes “The Financial Institutional Bankruptcy Act of 2014”
This week, the House of Representatives passed “The Financial Institutional Bankruptcy Act of 2014,” a bill allowing financial institutions, and in some cases, the Federal Reserve, to voluntarily begin the bankruptcy process. The bill, co-sponsored by Rep. Spencer Bachus (R-Ala.), House Judiciary Committee Chairman Bob Goodlatte (R-Va.), and Ranking Member John Conyers (D-Mich.), was passed […]
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