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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.

USA, Insolvency & Restructuring, Litigation, 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.

USA, New York, Insolvency & Restructuring, Litigation, Cadwalader Wickersham & Taft LLP
No soup for you: derivative actions concerning Delaware limited liability companies

The opinion issued by the Delaware Supreme Court (the “Court”) in the matter of CML V, LLC v. Bax, No. 735, 2010 (Del. Supr. Sept.

USA, Delaware, Company & Commercial, Corporate Finance/M&A, Insolvency & Restructuring, Litigation, Winston & Strawn LLP, Legal personality, Fiduciary, Statute of limitations, Board of directors, Limited liability company, Standing (law), Secured creditor, Derivative suit, Court of Chancery, Delaware Court of Chancery, Delaware Supreme Court