Bankruptcy Law Case Summary – SEC v. Miller

On behalf of Furr & Cohen, P.A. posted in News on Friday, May 6, 2016.

In a securities action seeking to enforce a $300 million disgorgement order, the district court’s freezing of defendants’ assets despite their filing for Chapter 11 bankruptcy protection is affirmed where the court’s asset freeze order fell within the “governmental unit” exception to the automatic stay provision of the Bankruptcy Code, 11 U.S.C. section 362.