United States Second Circuit

In this Chapter 15 ancillary bankruptcy proceeding, an order of the Bankruptcy Court declining to conduct a section 363 review of a sale of the claims of a British Virgin Islands investment fund in the liquidation of Bernard L. Madoff Investment Securities under the Securities Investor Protection Act (SIPA) is vacated and remanded, where: 1) the sale of the SIPA claims is a "transfer of an interest of the debtor in property that is within the territorial jurisdiction of the United States," pursuant to 11 U.S.C. section 1520(a)(2); and 2) the sale is subject to review under section 363 and comity is not warranted.

Appellate Information

• Decided 09/26/2014
• Published 09/26/2014

Judges

• Walker

Court

• United States Second Circuit

Counsel