EPLG I, LLC v. Citibank, National Association (In re Qimonda Richmond, LLC) – Judge Walrath’s Denial of Citibank’s Motion to Dismiss on 546(e) Grounds

EPLG I, LLC v. Citibank, National Association (In re Qimonda Richmond, LLC), Adv. Proc. No. 11-50603 (Bankr.D.Del. March 26, 2012)  – Memorandum Opinion Denying Citibanks Motion to Dismiss in the District of Delaware by U.S. Bankruptcy Judge Mary F. Walrath –  In a blow to issuers of letters of credit, Defendant Citibank’s Motion to Dismiss on 546(e) “settlement payment” grounds $33 million preference claim in Qimonda adversary proceeding is denied by District of Delaware Bankruptcy Judge Mary F. Walrath.