A federal judge in Manhattan has declined to hear fraudulent conveyance and preferential transfer claims in sham investment firm Arbco Capital Management’s bankruptcy case, ruling that, even in light of a U.S. Supreme Court decision that the bankruptcy court cannot finally adjudicate the claims, it is most efficient for the bankruptcy court to hear them in the first instance.
However, Southern District Judge J. Paul Oetken said that after the bankruptcy judge decides those specific claims the ruling would be reviewed by an Article III court.
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