Statutory Background Section 546(e) of the Bankruptcy Code, known as the “safe harbor” provision, shields specified types of payments from a bankruptcy trustee’s avoidance powers, including certain transfers “made by” a “financial participant” in connection with a “securities contract.” The scope of Section 546(e) has been the subject of extensive debate. In re Samson Resources Corp. presented the specific question of whether a debtor can be considered a “financial participant” for the purposes of Section 546(e). In short, a “financial participant” is defined by Bankruptcy Code § 101(22A) as (A) an entity, (B) who has one or more required agreements, (C) in the required amounts, (D) with “the debtor or any other entity (other than an affiliate).”