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New Cases For the Week of July 1, 2002 - July 5,
2002
Brought to you by BKINFORMATION.COM
- The Source for Business Bankruptcy Information on the Internet
July
2, 2002
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Case
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Court
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Holding
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In
re Olympic Natural Gas
(DBN Subscription Required) |
5th Cir. |
When
interpreting 11 USC 546(e) (exempting forward contract
transactions from avoidance), the Bankruptcy Court and
District Court did not err in rejecting the bankruptcy
trustee's contention that the universe of forward-looking
commodities-related contracts was comprised of three parts:
(1) futures, or on-exchange financial instruments; (2)
forwards, or off-exchange financial instruments; and (3)
ordinary commodity contracts (i.e. contracts for the
commercial supply of goods with a future delivery date).
The Courts found that the correct interpretation of the
statute was that the category contained only two parts: (1)
on-exchange futures transactions; and (2) off-exchange forward
contracts. |
Hecker
v. Nathanson
(DBN Subscription Required) |
Cal. 2d. |
Res
judicata barred state court litigation after bankruptcy court
allowed landlord's breach of contract claim in tenants'
bankruptcy case |
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