District court quashes controversial TOUSA fraudulent transfer decision

In a recent 113-page decision, Judge Alan S. Gold of the U.S. District Court for the Southern District of Florida quashed the TOUSA Bankruptcy Court’s previous controversial fraudulent conveyance decision that required secured lenders (the "Transeastern Lenders") to disgorge approximately $480 million received in settlement of their claims against TOUSA.

Filed under:
USA, Florida, Insolvency & Restructuring, Litigation, Pillsbury Winthrop Shaw Pittman LLP, Bond (finance), Bankruptcy, Unsecured debt, Interest, Debt, Joint venture, Conveyancing, Default (finance), Line of credit, Subsidiary, United States bankruptcy court
Authors:
Craig A. Barbarosh , Karen B. Dine , Erica Edman Carrig , Brandon R. Johnson
Location:
USA
Firm:
Pillsbury Winthrop Shaw Pittman LLP