In a fraudulent conveyance action in Bankruptcy Court, summary judgment for Defendants is affirmed where 11 U.S.C. section 546(e) is not limited to publicly traded securities but also extends to transactions, such as the leveraged buyout at issue, involving privately held securities.
Argued: March 4, 2009
Decided and Filed: July 6, 2009
Opinion by Judge Norris
Boyd A. Henderson, Miller Johnson, Grand Rapids, MI