"Enron Ruling on Claim Transfers Reversed"

This is a summary of the recent decision of Enron v. Springfield, L.L.C., in the Southern District of New York, which reversed a prior bankruptcy court decision involving the equitable subordination and disallowance of claims that had been transferred from the original claim holder to another party.  This ruling is of particular interest to those involved in trading bankruptcy claims in the distressed debt markets.