In what for the creditor community is likely a welcome but not unexpected ruling, a panel of the U.S. Court of Appeals for the Third Circuit recently held, in Speedwell Ventures v. Berley Associates (In re Pazzo Pazzo), No. 21-2344, (3d Cir. Dec. 15, 2022), that a terminated option to repurchase property could not be resurrected by a claim of the option holder's bankruptcy estate that the termination of the option was a fraudulent transfer. While the decision provides some guidance as to how the prepetition termination or expiration of a purchase option may fare in bankruptcy, the holding is narrow, and leaves open the question of whether the court's reasoning can be applied in other circumstances to shield prepetition transactions from avoidance claims.