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Contemporary Indus. Corp. v. Terry Frost (In re Contemporary Indus. Corp.), Ch. 11, BK98-80382, A99-8135 (June 29, 2007)

The court granted summary judgment to the defendants, finding that the shareholders' sale of debtor's stock in the context of a leveraged buyout conducted through a bank escrow agent constituted a "settlement payment" for purposes of ยง 546(e) and could not be avoided by the trustee or the DIP as a fraudulent transfer.

Date: 
Friday, June 29, 2007
Judge: 
Judge Timothy J. Mahoney (Retired)