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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
Finding Opportunity in Distressed Circumstances

A successful purchase depends not just on negotiating a two-party transaction, but rather navigating the applicable process and dealing with all the competing interests successfully to allow a bid to succeed and closing to occur.

Q: Do opportunities exist for asset buyers in times of distress?

USA, Banking, Insolvency & Restructuring, Nutter McClennen & Fish LLP, US Department of Justice, Title 11 of the US Code