TOUSA Explained: How Can Liability Disappear and Should I Accept That Payoff? Audio Download

    TOUSA Explained: How Can Liability Disappear and Should I Accept That Payoff? Audio Download

    TOUSA Explained: How Can Liability Disappear and Should I Accept That Payoff? Audio Download

    The United States Court of Appeals for the Eleventh Circuit issued its much anticipated decision in the TOUSA, Inc. bankruptcy cases on May 15, 2012. The decision provides an ominous reminder to Lenders to carefully assess the value of accepting asset pledges or guarantees from borrowers subsidiaries, sometimes referred to as ...
    $90
    NON-MEMBERS
    $70
    MEMBERS
    $50
    SECTION MEMBERS
    *Additional discounts may apply at checkout

    Log In to view your rate

    The United States Court of Appeals for the Eleventh Circuit issued its much anticipated decision in the TOUSA, Inc. bankruptcy cases on May 15, 2012. The decision provides an ominous reminder to Lenders to carefully assess the value of accepting asset pledges or guarantees from borrowers subsidiaries, sometimes referred to as upstream guarantees. TOUSA should also give creditors pause in accepting payments for existing obligations from the proceeds of transactions that may later be avoided as fraudulent transfers in violation of the bankruptcy code. Our panel of experts will discuss:
    • What does TOUSA say about upstream and cross stream guarantees and how does that relate to typical workouts? Has the test for indirect benefit been changed?
    • What does TOUSA say about accepting loan repayments from an insolvent or risky borrower?
    • Are there any work-arounds or documentary protections?
    • How does TOUSA affect lawyers who give opinions?
    • In view of Stern v. Marshall, some (but not all) courts have held that a bankruptcy court may not enter final orders in a fraudulent conveyance suit, but can only make recommendations to the district court. If this matter is re-heard by the 11th Circuit is it possible that the Stern decision will change the standard on appeal, and hence the result?
    PANELISTS:Jo Ann J. Brighton, Leader Restructuring and Bankruptcy Practice K&L Gates LLP, Charlotte, NCDavid R. Kuney, Member Real Estate Practice Group Sidley Austin LLP, Washington, DC Speakers and topics are subject to change.

    Product Details

    Sponsors

    Section of Real Property, Trust and Estate Law

    Product Code

    5430607AUD

    Publication Date

    8/1/2012 12:00:00 AM

    Related On-Demand CLE

    Related Events