Legal Opinion

QSI Holdings, Inc. v. Alford

Court of Appeals for the Sixth Circuit

Decided July 6, 2009No. 08-1176PublishedCited by 29 opinions

1Opinion of the Court

OPINION

ALAN E. NORRIS, Circuit Judge.

In this appeal, we must determine whether § 546(e) of the Bankruptcy Code applies to privately traded securities. If that is indeed the case, then the settlement payments made to defendant shareholders are exempt from avoidance. This is an issue of first impression in this circuit and we now hold, as did the bankruptcy and district courts below, that § 546(e) is not limited to publicly traded securities but also extends to transactions, such as the leveraged buyout at issue here, involving privately held securities.

I

‘When reviewing an order of a bankruptcy…

2Cases cited15 opinions

Lamie v. United States TrusteeSupreme Court of the United States · 2004
In Re Chase & Sanborn Corporation, F/k/a General Coffee Corporation, Debtors. Paul C. Nordberg, as Creditor Trustee v. Societe GeneraleCourt of Appeals for the Eleventh Circuit · 1988
Chase Manhattan Mortgage Corp. v. Shapiro (In Re Lee)Court of Appeals for the Sixth Circuit · 2008
Contemporary Industries Corp. v. FrostCourt of Appeals for the Eighth Circuit · 2009
In Re: Resorts International, Inc.Court of Appeals for the Third Circuit · 1999

10 more not listed; retrieve them via the Exa API.

3Cited by29 opinions

Merit Management Group, LP v. FTI Consulting, Inc.Supreme Court of the United States · 2018
Enron Creditors Recovery Corp. v. Alfa, S.A.B. De C.V.Court of Appeals for the Second Circuit · 2011
Securities Investor Protection Corp. v. Bernard L. Madoff Investment Securities LLCDistrict Court, S.D. New York · 2012
Grayson Consulting, Inc v. Wachovia Securities, LLC (In Re Derivium Capital LLC)Court of Appeals for the Fourth Circuit · 2013
Official Committee of Unsecured Creditors of Quebecor World (USA) Inc. v. American United Life InsuranceCourt of Appeals for the Second Circuit · 2013

24 more not listed; retrieve them via the Exa API.