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Are Buyers of Assets Acquired from Debtors in Section 363 Bankruptcy Sales Protected from Debtors’ Product Liability Claims?

Second Circuit Court of Appeals Decision in GM Cases Casts a Shadow Over Whether Section 363 Sale Orders Insulate Buyers from Debtors’ Product Liability Claims.

USA, Banking, Insolvency & Restructuring, Litigation, Paul Hastings LLP, Bankruptcy, Debtor, Liability (financial accounting), General Motors, Title 11 of the US Code
Delaware Bankruptcy Court Refuses to Dismiss Chapter 11 Case Despite Existence of Secured Lender’s “Golden Share” in Debtor’s Delaware LLC Agreement: Could Bankruptcy-Remote Structures Be at Risk?

I. Introduction

USA, Delaware, Banking, Insolvency & Restructuring, Litigation, Paul Hastings LLP, Bankruptcy, Fiduciary, Limited liability company, United States bankruptcy court
RadioShack – Bankruptcy Court implicitly recognizes enforceability of agreement among lenders but limits coverage of first out contingent indemnification claims

The unitranche financing market has expanded significantly in recent years. Generally, a unitranche deal involves two lenders (or groups of lenders) that provide financing on a “first out” and “last out” basis. In conjunction with the financing, the borrower grants one lien and enters into a single credit agreement and the lenders enter into an “Agreement Among Lenders” (“AAL”). An AAL is similar to an intercreditor agreement and provides for certain rights and remedies of the lenders.

USA, Delaware, Banking, Insolvency & Restructuring, Litigation, Paul Hastings LLP, Debtor, United States bankruptcy court