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The rule that state actions brought under the Securities Act of 1933 cannot be removed to federal court is trumped by a bankruptcy rule that says suits should be removed where they "relate to" the bankruptcy action, the 2nd Circuit has ruled. Addressing a case of first impression, a two-judge panel said it was resolving what it called the close question posed by a direct conflict between the 1933 act and the bankruptcy removal statute.
May 14, 2004 at 12:00 AM
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The original version of this story was published on Law.Com
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