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
USA, Banking, Insolvency & Restructuring, Litigation, Alston & Bird LLP, Investment funds, Default (finance), Distressed securities, Bank of America, United States bankruptcy court
Earlier today, the FDIC announced that the FDIC Board of Directors voted on Friday, October 8, 2010 to approve the issuance of a notice of proposed rulemaking (NPR) regarding the treatment of certain creditor claims under the FDIC’s new orderly liquidation authority established under Title II of the
USA, Banking, Insolvency & Restructuring, Alston & Bird LLP, Bond market, Letter of credit, Unsecured debt, Collateral (finance), Board of directors, Market liquidity, Liquidation, Holding company, Subsidiary, Subordinated debt, US Federal Government, Federal Deposit Insurance Corporation (USA), Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 (USA)