United States Third Circuit

In an action to determine the meaning of the statutory phrase requiring damages to be measured based on a "commercially reasonable determinant[ ] of value" as applied to mortgage Repurchase Agreements, transactions governed by section 562 of the Bankruptcy Code which was enacted as part of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, the Bankruptcy Court's order, that the market price should be used to determine an asset's value when the market is functioning properly, is affirmed where the bankruptcy judge's findings and conclusions are persuasive and supported by the evidence.

Appellate Information

• Decided 02/16/2011
• Published 02/16/2011

Judges

• SLOVITER

Court

• United States Third Circuit

Counsel