Tag Archives: safe harbor

Safe Harbors and Securitizations: Loan Payments in Connection with a Commercial Mortgage-Backed Securitization Protected from Clawback under the U.S. Bankruptcy Code Safe Harbors

By Andrea Pincus, Paul Turner, and Sarah Kam You can find a detailed analysis in our client alert on the order Safe Harbors and Securitizations: Loan Payments in Connection with a Commercial Mortgage-Backed Securitization Protected from Clawback under the U.S. Bankruptcy Code Safe Harbors The Swap Report The U.S. Bankruptcy Court, Northern District of Illinois issued … Continue Reading

Bankruptcy Code “Safe Harbor” Provisions Do Not Protect Contractual Right to Triangular Setoff

By Todd Zerega and Luke Sizemore CASE SNAPSHOT Prior to filing for bankruptcy, a debtor entered into a repurchase agreement with an investment bank and a swap agreement with an affiliate of the investment bank. Following commencement of the debtor’s bankruptcy case, the investment bank and its affiliate effectuated a triangular setoff whereby the banks … Continue Reading

Second Circuit Interprets Securities Contract Safe Harbor Broadly For Second Time in Three Years

By Todd Zerega and Luke Sizemore CASE SNAPSHOT For the second time in three years, the United States Court of Appeals for the Second Circuit (the “Court”) has taken a broad view of the “safe harbor” provision found in section 546(e) of the Bankruptcy Code for certain “settlement payments” and transfers in connection with securities … Continue Reading
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