FS Credit Opportunities Corp. v. Saba Capital Master Fund, Ltd. · ¶71

Next, Congress authorized rescission “at the instance of any party.” The mention of the “party” raising rescission represents another substantial upgrade from the old Section 47(b), and one that also sets the statute apart from others that we’ve said fall short of “‘rights-creating’ language.” Sandoval, 532 U. S., at 288; see, e.g., Thompson v. Thomp son, 484 U. S. 174, 177, 183 (1988) (no implied private right of action in 28 U. S. C. §1738A, a statute designed to “‘avoid jurisdictional competition and conflict between State courts’” and “addressed entirely to States and state courts”). And for all the majority’s protestations that Section 47(b) is a “mandate directed to . . . courts, rather than a provision that confers a right on a specified class of persons,” ante, at 5 (some alterations and internal quotation marks omitted), it fails to account for the fact that we found an implied…

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