Bankruptcy Law Case Summary In re Tribune Co. Fraudulent Conveyance Litig.
On behalf of Furr & Cohen, P.A. posted in News on Friday, April 29, 2016.
In a bankruptcy action, brought by unsecured creditors of Chapter 11 debtor Tribune Company, the district court’s dismissal of the creditors’ state law, constructive fraudulent conveyance claims is affirmed where: 1) the Bankruptcy Code’s automatic stay provision does not bar the creditors’ action where the debtor’s confirmed reorganization plan has freed them from the Code’s restrictions; but 2) creditors’ claims are preempted by Bankruptcy Code section 546(e).