May 24, 2012

New Appeals Court Decision in TOUSA Case on Subsidiary Guarantees and Fraudulent Conveyance

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Last week's federal appeals court decision in the TOUSA bankruptcy litigation provides important guidance on the enforceability of subsidiary guarantees and other upstream credit support, especially in distressed refinancing transactions. It also highlights the risk for outgoing lenders that their repayment may be subject to clawback if the new financing is subject to fraudulent conveyance attack.

View full memo, "New Appeals Court Decision in TOUSA Case on Subsidiary Guarantees and Fraudulent Conveyance"

Authors and Contributors

David Beveridge

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Jonathan (JD) DeSantis

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Jason Lehner

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Maura O’Sullivan

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