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US Supreme Court makes landmark safe harbour ruling

Global Restructuring Review

28 Feb 2018

James Peck, co-chair of Morrison & Foerster’s Business Restructuring & Insolvency Group, believes the U.S. Supreme Court’s decision in Merit Management Group, LP v. FTI Consulting, Inc. provided much needed guidance on the U.S. bankruptcy code’s “safe harbor” clawback.

“This is an important clarifying decision that advances the aims of equitable distribution in bankruptcy cases and eliminates a much criticized defence to avoidance actions, especially in the settling of failed LBOs [leveraged buyouts],” he said in the Global Restructuring Review article “US Supreme Court makes landmark safe harbour ruling.”

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