David M. Tanabe , Winthrop & Weinstine, P.A.
In Kelley v. Safe Harbor Managed Account 101, Ltd. , No. 20-3330, 2022 WL 1177748 (8th Cir. Apr. 21, 2022), the Eighth Circuit reversed the district court and remanded to consider whether certain transfers to a financial institution where made in connection with a securities contract for the safe harbor exception to avoidance pursuant to 11 U.S.C. § 546(e).
This case is one of many arising from the multi-billion-dollar fraud perpetuated by former Minnesota businessman, Thomas Petters, through his company, Petters Company, Inc. (“PCI”). Appellee Safe Harbor Managed Account 101, Ltd. ...