Federal district court: distressed debt fund not a “financial institution”

A federal district court has ruled that a distressed debt fund is not a “financial institution” for purposes of the assignment provisions of a loan agreement.

Background

Filed under:
USA, Banking, Insolvency & Restructuring, Litigation, Alston & Bird LLP, Investment funds, Default (finance), Distressed securities, Bank of America, United States bankruptcy court
Authors:
Paul M. Cushing , Ginger R. Burton
Location:
USA
Firm:
Alston & Bird LLP