SIPA Bars General Unsecured Claims for Failure to Transfer Accounts Before Filing
The trustee for a bankrupt broker can ignore an individual customer’s request to transfer securities to a solvent broker and may instead transfer customer accounts in bulk.
May 2018 Benchnotes
Journal Issue:
Flip Clauses in Swaps Held Enforceable by District Judge in New York
For swaps, the Section 560 safe harbor overrides the anti-ipso facto provisions in the Bankruptcy Code.
Judge Harner Pens a Primer on the Elements of an Executory Contract
Unperformed obligations must be ‘material’ for a contract to be executory.
Court:
Delaware Judge Nixes the Notion of Implied Assumption of Executory Contracts
An asset purchaser cannot escape liability for appropriating the benefits of a contract that was not assumed and assigned.
Court:
A Trademark License Rejection Case May End Up in the Supreme Court
A case on the ability of state law to take property out of the estate after filing may not go to the Supreme Court.
Court: