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IN RE OLYMPIC NATURAL GAS CO.

No. 01-20950.

294 F.3d 737 (2002)

In The Matter Of: OLYMPIC NATURAL GAS CO., Debtor. Randy W. Williams, Trustee, Appellant, v. Morgan Stanley Capital Group Inc., Appellee.

United States Court of Appeals, Fifth Circuit.

June 28, 2002.

Attorney(s) appearing for the Case

David James Askanase (argued), Ann dePender Zeigler, Hughes, Watters & Askanase, Houston, TX, for Appellant.

Jonathan I. Blackman (argued), Jonathan J. Gass, Cleary, Gottlieb, Steen & Hamilton, New York City, D. Michael Dalton, Martha McDugald, Jennifer Montgomery Gore, Andrews & Kurth Mayor, Day, Caldwell & Keeton, Houston, TX, for Appellee.

Before DAVIS, EMILIO M. GARZA and STEWART, Circuit Judges.

EMILIO M. GARZA, Circuit Judge:

Trustee Randy W. Williams (the "Trustee") appeals the district court's judgment affirming the bankruptcy court's grant of summary judgment in favor of Morgan Stanley Capital Group, Inc., ("Morgan Stanley"). On appeal, we must decide whether the Trustee is precluded from avoiding certain payments made by the debtor to Morgan Stanley pursuant to 11 U.S.C. § 546(e) of the Bankruptcy Code (the "Code"), which immunizes from avoidance...

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