TOUSA III: Lenders Beware? Eleventh Circuit Upholds Bankruptcy Court’s Original Fraudulent Transfer Decision

In a closely watched appeal, the Eleventh Circuit Court of Appeals reversed the district court and affirmed the bankruptcy court’s original decision in In re TOUSA, Inc., in which it found that various lenders had received hundreds of millions of dollars in fraudulent transfers.

Introduction

On 19 April 2012 the Ministry of Finance submitted a bill to the lower house of the Dutch parliament providing for the implementation of the Alternative Investment Fund Managers Directive (the "AIFMD") in Dutch law (the "Bill").

Business failures: numerous and increasing It has become a commonplace remark, but the issue is sufficiently serious to recall: the number of business failures in France has increased continuously over the last ten years.

The European Debt Crisis - Ahmar Ahmad, Mark Walker, P. Oliver Sarkozy, Wilbur L. Ross Jr.

22/4/2012: A consensus has gradually emerged among experts about the first necessary step to solve the eurozone crisis: a eurozone-wide system of banking resolution, prudential supervision and deposit insurance. The idea is essentially to take the nation state out of banking and to make the eurozone – or the European Union – responsible for everything. The notion of, say, a Spanish bank would cease to exist. It is in many respects a very obvious solution to a big part of the crisis – the weakness of eurozone banks and their toxic relationship with national governments.

16/4/2012: It started out like "Mission: Impossible" but has ended up more like "Meet the Fockers," minus the comedy. Western governments' emergency interventions in the financial sector during the 2007-2009 crisis and the more recent European turmoil have led to a messy relationship riddled with distrust and misunderstandings. The situation is understandable in the short-term but untenable in the long-run. In the U.S.

An Act to consolidate the enactments relating to company insolvency and winding up (including the winding up of companies that are not insolvent, and of unregistered companies); enactments relating to the insolvency and bankruptcy of individuals; and other enactments bearing on those two subject matters, including the functions and qualification of insolvency practitioners, the public administration of insolvency, the penalisation and redress of malpractice and wrongdoing, and the avoidance of certain transactions at an undervalue

The Lord Chancellor, in the exercise of his powers under sections 411 and 412 of the Insolvency Act 1986, with the concurrence of the Secretary of State, and after consulting the committee existing for that purpose under section 413 of that Act, hereby makes the following Rules:—