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Abstract: 

In this article, the authors discuss a recent opinion of the Tenth Circuit which may sharply limit subsequent transferee liability in certain circumstances. While this holding remains binding precedent in the Tenth Circuit, at least one bankruptcy court in the Southern District of Texas has rejected this reading entirely. The authors explore the different reasoning that the courts applied to reach their conclusions and the implications for trustees and transferees alike.

Keywords: Transferee Liability in Bankruptcy; Generation Resources Holding Co. LLC; In re Giant Gray, Inc.

Affiliations:  1: Orrick, Herrington & Sutcliffe LLP; 2: Orrick.