Lender Liability

In Lender-on-Lender Violence, an ‘Uptier’ Financing Bites the Dust, this Time in Houston

Fancy drafting by ‘brilliant financiers and lawyers,’ the judge said, didn’t validate an uptier transaction when the ‘effect’ was to release collateral without a two-thirds vote.

Fifth Circuit Holds that Equitable Mootness Doesn’t Protect Parties to the Appeal

Fifth Circuit didn’t permit plan proponents to structure a chapter 11 plan so that an appeal would be equitably moot.
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Fifth Circuit Bans Uptier Financings for Violating the Principle of Ratable Treatment

The Fifth Circuit declines to adopt a securities industry guidebook for what’s a permissible financing.
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