This article discusses the Second Circuit Court of appeals case, Longacre Master Fund Ltd. v. ATS Automation Tooling Systems, Inc. and its implications for the trading of bankruptcy claims. The author reviews the facts of the Longacre case, analyzing it in the context of applicable contract law, Bankruptcy Code section 502(d) and the controversial claims trading case in the Southern District of New York, Enron v. Springfield Associates.

Awaiting 2nd Circ. Spin on Bankruptcy Claims Trading