Legal Opinion
Enron Corp. v. Bear, Stearns International Ltd. (In Re Enron Corp.)
United States Bankruptcy Court, S.D. New York
Decided April 27, 2005No. 14-37303PublishedCited by 17 opinions
1Opinion of the Court
MEMORANDUM OPINION DENYING DEFENDANTS’ MOTION TO DISMISS COMPLAINT
ARTHUR J. GONZALEZ, Bankruptcy Judge.
The issue presented is whether the payment by an Oregon corporation for the purchase of its own shares in violation of an Oregon statute, which prohibits distributions by a corporation on account of its stock, can be considered a settlement payment protected from avoidance by section 546 of the Bankruptcy Code.
The Court holds that because, under Oregon law, an act in violation of the Oregon distribution statute is considered void, such action is a nullity and, as such, the underlying…
2Cases cited28 opinions
- Conley v. GibsonSupreme Court of the United States · 1957
- Papasan v. AllainSupreme Court of the United States · 1986
- Chambers v. Time Warner, Inc.Court of Appeals for the Second Circuit · 2002
- James Walker v. The City of New YorkCourt of Appeals for the Second Circuit · 1992
- Hirsch v. Arthur Andersen & Co.Court of Appeals for the Second Circuit · 1995
23 more not listed; retrieve them via the Exa API.
3Cited by17 opinions
- Contemporary Industries Corp. v. FrostCourt of Appeals for the Eighth Circuit · 2009
- Official Committee of Unsecured Creditors of Norstan Apparel Shops, Inc. v. Lattman (In Re Norstan Apparel Shops, Inc.)United States Bankruptcy Court, E.D. New York · 2007
- Geltzer v. Mooney (In Re MacMenamin's Grill Ltd.)United States Bankruptcy Court, S.D. New York · 2011
- Gredd v. Bear, Stearns Securities Corp. (In Re Manhattan Investment Fund Ltd.)United States Bankruptcy Court, S.D. New York · 2007
- Kapila v. Espirito Santo Bank (In Re Bankest Capital Corp.)United States Bankruptcy Court, S.D. Florida. · 2007
12 more not listed; retrieve them via the Exa API.