In re Crane: update on appellate and legislative efforts to clarify Illinois mortgage requirements

In February the Bankruptcy Court for the Central District of Illinois held in Crane v.

Filed under:
USA, Illinois, Banking, Insolvency & Restructuring, Litigation, Husch Blackwell LLP, Interest, Amicus curiae, Mortgage loan, Seventh Circuit
Authors:
Phillip J.F. Geheb , Courtney L. Hill
Location:
USA
Firm:
Husch Blackwell LLP
Lenders should take careful note of potential vulnerabilities exposed in TOUSA decision

The United States Court of Appeals for the Eleventh Circuit issued its much anticipated decision in the TOUSA, Inc. bankruptcy cases on May 15, 2012.  The decision provides an ominous reminder to Lenders to carefully assess the value of accepting asset pledges or guarantees from borrowers’ subsidiaries, sometimes referred to as upstream guarantees.

Filed under:
USA, Banking, Insolvency & Restructuring, Litigation, Husch Blackwell LLP, Eleventh Circuit
Authors:
John P. McNearney , Courtney L. Hill
Location:
USA
Firm:
Husch Blackwell LLP