Marshall v. Picard’s Empirical Analysis
740 F.3d 81 · 2014
Citation profile
4 federal appellate · 2 district · 2 state decisions
Relationships
Applies 11 U.S.C. § 105 · 11 U.S.C. § 362 · 11 U.S.C. § 541 · 11 U.S.C. § 550 · 15 U.S.C. § 78F (§ 6 of the Securities Exchange Act of 1934) · 18 U.S.C. § 1341 (White-Collar Crime Penalty Enhancement Act of 2002) · 18 U.S.C. § 1956 (§ 1352 of the Money Laundering Control Act of 1986) · 18 U.S.C. § 1961 (§ 901 of the Racketeer Influenced and Corrupt Organizations Act)
Relies on Granfinanciera, S.A. v. Nordberg · Turner v. Rogers · Stern v. Marshall · Travelers Indemnity Co. v. Bailey · Sims v. Blot
Most-quoted passages
The sentences later courts lift from this opinion, ranked by how many decisions quote each — the parts of the opinion doing the work. These counts are smaller than the citation total above because most of the 40 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.
“[I]t is not enough that securities fraud claims would be non-derivative of fraudulent conveyance claims and that Appellants call their claims — securities fraud claims the Goldman Complaints must actually plead securities fraud claims. Beyond a few bare legal conclusions, the Complaints plead no such claims. All the Goldman Complaints plead is that the Picower Defendants directed trades in their own BLMIS accounts and did so knowing that no such trades were in fact taking place — in other words, that the Picower Defendants fraudulently withdrew money from BLMIS.”
3 later decisions quote this exact passage · from the majority“The Court declines to conduct an emergency hearing on the question of whether to enjoin the New York action. Rather, this Court defers to the Bankruptcy Court for the Southern District of New York for a ruling on Picard’s motion to enjoin the instant action.”
2 later decisions quote this exact passage · from the majority“The filing of a bankruptcy petition creates an estate that is comprised of, among other things, “all legal or equitable interests of the debtor in property as of the commencement of the case.” ... However, the trustee has no right to bring claims that belong solely to the estate’s creditors. Whether a particular state-law claim belongs to the bankruptcy estate depends on whether under applicable state law the debtor could have raised the claim as of the commencement of the case.... As part of this inquiry, we look to the nature of the injury for which relief is sought and consider the relationship between the debtor and the injury_ (“The injury characterization analysis should be considered as an inseparable component of whether an action belongs to the [estate] or [creditor].”) “If a cause of action alleges only indirect harm to a creditor (i.e., an injury which derives from harm to the debt- or), and the debtor could have raised a claim for its direct injury under the applicable law, then the cause of action belongs to the estate.” ... “Conversely, if the cause of action does not explicitly or implicitly allege harm to the debt- or, then the cause of action could not have been asserted by the debtor as of the commencement of the case, and thus is not property of the estate.””
1 later decision quote this exact passage · from the majority
How this case has been treated — in progress
Whether each later court followed, distinguished, criticized, or overruled this decision. The treatment classification (task #35) runs highest-cited cases first and lights up here as it reaches this one.