District Court Rejects the Narrowing of § 546(e) “Safe Harbor” Provision and Applies Safe Harbor to Privately Held Securities
ABI
JANUARY 19, 2024
1] The safe harbor rule set out in Section 546(e) of Title 11 of the United States Code (the “Bankruptcy Code”) provides, in part, that a trustee may not avoid a transfer made before the commencement of the case in connection with a securities contract, as defined in Section 741(7), made by, to, or for the benefit of a financial institution. [2]
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