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Ninth Circuit Holds Bank Liable for Preference, Applying Hypothetical Liquidation Analysis
Westlaw Journal – Bankruptcy
March 23, 2017
“Courts may account for hypothetical preference actions within a hypothetical Chapter 7 liquidation” to hold a defendant bank (“Bank”) liable for a payment it received within 90 days of a debtor’s bankruptcy, held the U.S. Court of Appeals for the Ninth Circuit on March 7, 2017. According to the court, the hypothetical “inquiry must be factually warranted, be supported by appropriate evidence, and … not contravene an independent statutory provision.” In this article, of counsel Michael Cook and partner Lawrence Gelber discuss the Ninth Circuit’s decision.
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The US Securities and Exchange Commission (“SEC”) and the Commodity Futures Trading Commission (“CFTC”) have overhauled Form PF and private fund managers have until March 12, 2025, to begin reporting on the new Form. The changes to the reporting requirements mandated by the amendments to the Form (“Form PF Amendments”) will require substantial preparation by many managers.[1]
Alerts
The US Securities and Exchange Commission (“SEC”) and the Commodity Futures Trading Commission (“CFTC”) have overhauled Form PF and private fund managers have until March 12, 2025, to begin reporting on the new Form. The changes to the reporting requirements mandated by the amendments to the Form (“Form PF Amendments”) will require substantial preparation by many managers.[1]