RCT Handles Landmark Case Before U.S. Supreme Court
On November 6, 2017, the United States Supreme Court heard argument in Merit Management v. FTI Consulting, Inc., to resolve a circuit split about whether section 546(e) of the Bankruptcy Code bars a trustee from avoiding securities-related transfers that merely pass through a bank, but where neither the debtor nor the transferee is an entity protected by the statute. Five circuit courts have held that it does. RCT, however, convinced the Seventh Circuit to reject the opinions of those courts, thereby creating a circuit split to be resolved by the Supreme Court.
See transcript here | analysis
Prior results do not guarantee a similar outcome.