What you need to know:
USA, Banking, Insolvency & Restructuring, Litigation, Choate Hall & Stewart LLP, Debtor, Debt, Refinancing, Second Circuit, United States bankruptcy court
In an unusual ruling recently entered in the Chapter 11 case of Yellowstone Mountain Club, LLC and certain of its subsidiaries, the United States Bankruptcy Court for the District of Montana equitably subordinated the claim of a non-insider senior secured lender. While the equitable subordination of a claim is rare, the Yellowstone decision may signal that courts will be looking at loan transactions with a highly critical eye.
USA, Montana, Insolvency & Restructuring, Litigation, Choate Hall & Stewart LLP, Bankruptcy, Shareholder, Credit (finance), Debtor, Unsecured debt, Market liquidity, Holding company, Subsidiary, Secured loan, Credit Suisse, Ninth Circuit, United States bankruptcy court