July 1, 2025

TAX TRENDS

Funds

Bankruptcy trustee cannot avoid transfer of funds to IRS

In an 8—1 decision, the Supreme Court held that the waiver of sovereign immunity under Bankruptcy Code Section 106(a) for suits to avoid (i.e., set aside) certain transfers under Bankruptcy Code Section 544(b) applies only with respect to the federal cause of action created by Section 544(b) and does not apply to state–law claims that

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