Split decision refuses to invoke ‘equity’ to override a policy choice made by Congress.
Restitution payment does not qualify for the new value preference defense.
Insiders were protected in making loans to a failing company.
A ‘no harm, no foul’ stay violation is harmless error.
Three circuits permit collection of criminal restitution despite the automatic stay.
Criminal forfeiture and bankruptcy protect different interests, district judge says.
Madoff trustee racks up two victories in one day.