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Quality Stores LBO Payouts Exempt From Suits: Court

By Christie Smythe ( July 8, 2009, 12:00 AM EDT) -- A federal appeals court has ruled that payouts made to former shareholders of Quality Stores Inc. as a result of a leveraged buyout transaction that helped tip the company into bankruptcy cannot be recovered by the estate because the transfers were made through an intermediary bank, and not directly by the retailer....

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