Introduction
Fixed and floating charges – why are they important?
They give a lender a higher position in the queue for the net proceeds of a borrower’s assets in the event of a borrower’s insolvency.
Opinion Serves to Remind Lenders That “Bankruptcy Remote” Does Not Mean “Bankruptcy Proof”
Judge Allan L. Gropper of the Bankruptcy Court for the Southern District of New York issued a much-anticipated order on August 11, 2009, in the challenge to the bankruptcy filings by certain special-purpose-entity (“SPE”) affiliates of General Growth Properties, Inc. (“GGP”).
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