Mellon Bank, N.A. v. Metro Communications, Inc.
Court of Appeals for the Third Circuit
1Opinion of the Court
OPINION OF THE COURT
ROSENN, Circuit Judge.
This appeal, arising in the context of a failed leveraged buyout, had its roots in the congenial climate of mergers and acquisitions that beguiled corporate America during the decade of the nineteen-eighties. The appeal raises important questions regarding a bankruptcy trustee’s avoidance *638powers under 11 U.S.C. §§ 547(b) and 548(a)(2) of the bankruptcy code. The debt- or is Metro Communications (Metro), the corporation acquired in the leveraged buyout. Mellon Bank, N.A. (Mellon or Bank) financed the acquisition; Mellon lent the acquiror 1.85 million…
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