Don’t Lend No Hand to Raise No Flag Atop No Ship of Fools: Breach of SPE Provisions by Non-Borrower Exposes Non-Borrower to Potential Tort Liability

A recent decision of New York’s highest court potentially strengthens the ability of lenders to bring suits against third parties for participation in a borrower’s breach of single purpose entity/bankruptcy remote loan document covenants.

Filed under:
USA, Insolvency & Restructuring, Litigation, Cadwalader Wickersham & Taft LLP
Authors:
Steven M. Herman , Michael S. Anglin
Location:
USA
Firm:
Cadwalader Wickersham & Taft LLP
Don’t Lend No Hand to Raise No Flag Atop No Ship of Fools: Breach of SPE Provisions by Non-Borrower Exposes Non-Borrower to Potential Tort Liability

A recent decision of New York’s highest court potentially strengthens the ability of lenders to bring suits against third parties for participation in a borrower’s breach of single purpose entity/bankruptcy remote loan document covenants.

Filed under:
USA, New York, Insolvency & Restructuring, Litigation, Cadwalader Wickersham & Taft LLP
Authors:
Steven M. Herman , Michael S. Anglin
Location:
USA
Firm:
Cadwalader Wickersham & Taft LLP
Don’t Lend No Hand to Raise No Flag Atop No Ship of Fools: Breach of SPE Provisions by Non-Borrower Exposes Non-Borrower to Potential Tort Liability

A recent decision of New York’s highest court potentially strengthens the ability of lenders to bring suits against third parties for participation in a borrower’s breach of single purpose entity/bankruptcy remote loan document covenants.

Filed under:
USA, New York, Insolvency & Restructuring, Litigation, Cadwalader Wickersham & Taft LLP
Authors:
Steven M. Herman , Michael S. Anglin
Location:
USA
Firm:
Cadwalader Wickersham & Taft LLP