Insolvency and Restructuring Update
Contemporary Industries Corp.

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Eighth Circuit Holds in Contemporary Industries Corp. v. Frost that Payments Made to Selling Shareholders in the Course of a Leveraged Buyout Qualify as “Settlement Payments” and are Thus Exempt from Avoidance Pursuant to Section 546(e) of the Bankruptcy Code; Court Embraces Broad Application of Section 546(e) of Third and Tenth Circuits

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