MC Asset Recovery LLC v. Commerzbank A.G. (In Re Mirant Corp.)

How courts have described this case

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

• noting that if creditor can, on date of bankruptcy, reach property that debtor has transferred to third party, trustee may step into creditor’s shoes and avoid debtor’s transfer
• stating \[t]his circuit has not determined whether the [federal] independent judgment test or the forum state's choice-of-law rules should be applied in bankruptcy\
• agreeing with the Eighth and Ninth Circuits and concluding that post-petition settlement of claims did not affect the trustee’s standing under section 544(b)
• \Both the statutory language and the legislative history of the FDCPA indicate that it is not applicable law under § 544(b).\
• “[A]n entire transfer may be set aside even though the [triggering] creditor’s claim is nominal.”
• Trustee has standing to pursue avoidance claims “to the extent that … successful avoidance of fraudulent transfers will benefit the bankruptcy estate.”

Source: CourtListener parenthetical corpus (CC0).