Maxwell Communication Corp. Plc Ex Rel. Homan v. Societe General Plc (In Re Maxwell Communication Corp. Plc)

How courts have described this case

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

• holding that Congress did not clearly express an intent for Section 547 to allow a trustee to avoid foreign preferential transfers
• rejecting the claim that the alleged preferential transfers were domestic because the funds for the transfers derived from the sale of U.S. assets
• considering “the location of the transfers as well as the component events of those transactions .... ”
• stating that “section 502(d) permits disallowance of a claim only when that claim is made by an entity already adjudged to be liable for the return of property under other sections of the Bankruptcy Code and only after that entity fails to return the property”
• finding transfers occurred overseas where the debtor and transferee banks were foreign entities, whose relationship was centered abroad and the antecedent debts arose abroad pursuant to agreements governed by foreign law

Source: CourtListener parenthetical corpus (CC0).