Mayer Brown partners Sean Scott and Aaron Gavant and associate Josh Gross discussed a recent decision arising out of the Samson Resources Chapter 11 case wherein the U.S. Bankruptcy Court for the District of Delaware concluded that securities transactions with a debtor in which the debtor itself is the “financial participant” may be protected from avoidance—which could mean that more recipients of transfers in failed leveraged buyouts, and similar transactions, are protected from avoidance claims in a legal update available here.
Expanded Safe Harbor? Samson Resources Suggests Debtor’s Status Can Preclude Avoidance of Fraudulent Transfers
