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Are Trading Orders Unconstitutional?
October 30, 2006 Full PDF
The October 30 New York Law Journal featured an article by bankruptcy partner Stephen Shimshak and associates Justin Brass and Claudia Tobler, "Are Trading Orders Unconstitutional?" The article explores whether trading orders, which restrict substantial holders of a debtor's securities from freely trading those securities in large chapter 11 cases, constitute an impermissible Fifth Amendment taking.