United States Second Circuit

The Supreme Court's recent decision in Travelers Casualty & Surety Co. of America v. Pacific Gas & Electric Co., 127 S. Ct. 1199 (2007), does not undermine the Circuit Court's instruction that courts should "act very cautiously" in applying constructive trust law in the context of bankruptcy. Recognizing different equities in bankruptcy versus nonbankruptcy contexts is a permissible transformation of the substantive law.

Appellate Information

• Decided 12/16/2008
• Published 12/16/2008

Judges

• PER CURIAM:, Before:  WINTER, WALKER, and CALABRESI, Circuit Judges.

Court

• United States Second Circuit

Counsel

• For Appellant:
  
• William F. Costigan, Costigan & Company, P.C., New York, N.Y., for Appellant.


• For Appellees:
  
• William T. Russell (Michelle B. Cherande & Carlos A. Lopez, on the brief), Simpson Thacher & Bartlett LLP, New York, N.Y., for Appellees.