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Circuit Split Narrows on the New Value Defense to a Preference

Eleventh Circuit abandons the notion that new value must remain unpaid to offset a preference.
Court: 

Tribune Creditors Seek Reconsideration on Implied Preemption by the ‘Safe Harbor’

Following a suggestion made by two Supreme Court justices, Tribune creditors ask the Second Circuit to recall the mandate and remand for reconsideration in district court.

Supreme Court’s Second ‘Safe Harbor’ Case Is in Limbo

Two justices recommend that the Second Circuit reconsider the ‘Tribune’ safe harbor decision in light of Merit Management.

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