Hechinger Investment Co. v. Fleet Retail Finance Group

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• applying Resorts and holding that payment for shares of stock was an unavoidable settlement payment
• finding a settlement payment where Chase Mellon Financial Services was used as a disbursing agent to pay shareholders in a leveraged buyout
• court looks beyond multi-component transfers to the essence of the transaction and its net effect
• unjust enrichment claim barred where it \effectively acts as an avoidance claim against the shareholders in a transaction that the court has already found is an unavoidable settlement payment\
• “At the moment a corporation becomes insolvent, however, the insolvency triggers fiduciary duties for directors for the benefit of creditors.”
• “The Committee seeks the same remedy under its unjust enrichment claim as that sought under its fraudulent transfer claim — to avoid the transactions and recover payments that were made in exchange for the tender of Hechinger shares by Hechinger shareholders.”

Source: CourtListener parenthetical corpus (CC0).