Distress Mergers and AcquisitionsCorinne Ball, New York Law Journal
Split Increases Uncertainty as to Extent of Safe Harbors
In her Distress Mergers and Acquisitions column, Corinne Ball of Jones Day discusses a recent Seventh Circuit decision that rekindled a circuit split regarding the interpretation of §546(e), which is one of the "safe harbor" provisions enacted to minimize displacement in the commodities and securities markets in the event of a major bankruptcy affecting those markets. The split results in various levels of risk for participants in financial transactions, depending on the likely venue for a later challenge.
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