TOUSA: Eleventh Circuit upholds fraudulent transfer opinion against lenders

On May 15, 2012, the United States Court of Appeals for the Eleventh Circuit issued a decision[1]  in the much-watched litigation involving the residential construction company, TOUSA, Inc. ("TOUSA"). The decision reversed the prior decision of the District Court, [2] reinstating the ruling of the Bankruptcy Court.[3]

Background

Filed under:
USA, Banking, Insolvency & Restructuring, Litigation, Jones Day, Credit (finance), Unsecured debt, Debt, Subsidiary, Title 11 of the US Code, United States bankruptcy court, Eleventh Circuit
Authors:
Robert J. Graves (Bob) , Vanessa G. Spiro , Barry A. Jacobs
Location:
USA
Firm:
Jones Day