Fraudulent Conveyance Actions: TOUSA Revisited

Strategies for Lenders in Financing Transactions With Distressed Companies

Recording of a 90-minute CLE webinar with Q&A


Conducted on Tuesday, May 3, 2011

Recorded event now available

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Program Materials

This CLE webinar will provide bankruptcy attorneys with an analysis of the most recent TOUSA rulings, discuss the impact of the rulings on the practices of commercial lenders and other market participants, and outline strategies for leveraging these new TOUSA rulings.

Description

In welcome news for lenders, a Florida federal district court reversed the bankruptcy court’s fraudulent conveyance ruling against the TOUSA lenders. The court also reversed the bankruptcy court’s holding on reasonably equivalent value.

Lenders scored another victory in a related case against a lending syndicate that had extended TOUSA a revolving credit line. The district court affirmed dismissal of fraudulent conveyance claims holding that a post-insolvency amendment to an existing credit agreement was not a fraudulent transfer.

Practitioners must be thoroughly versed on the ramifications of the TOUSA developments on rescue financing and liens on subsidiary assets, as well as the future of fraudulent conveyance litigation.

Listen as our authoritative panel of bankruptcy attorneys discusses the key rulings in the most recent TOUSA cases and their impact on rescue finance transactions, loan documentation and the future of fraudulent transfer litigation.

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Outline

  1. Overview of TOUSA II rulings
    1. Insolvency
    2. Reasonably equivalent value
    3. Savings clauses
    4. Revolving credit facilities
  2. Impact of rulings, evaluating future liabilities, and mitigating impact
    1. Commercial lenders
    2. Commercial borrowers
    3. Secondary loan market participants
  3. Trends for future of fraudulent conveyance litigation

Benefits

The panel will review these and other key questions:

  • Have the recent TOUSA rulings validated the efficacy of saving clauses in loan documents and guaranties?
  • How will a post-insolvency amendment to an existing revolving credit facility agreement impact the fraudulent transfer analysis?
  • What challenges and pitfalls remain for secured lenders after the recent TOUSA rulings?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Thomas J. Hall
Thomas J. Hall

Partner
Chadbourne & Parke

Mr. Hall is Co-Head of the firm’s Commercial Litigation Practice and has extensive experience in complex...  |  Read More

Seven Rivera
Seven Rivera

Partner
Chadbourne & Parke

Mr. Rivera's practice involves all aspects of bankruptcy and restructuring representing both secured and unsecured...  |  Read More

Thomas J. McCormack
Thomas J. McCormack

Partner
Chadbourne & Parke

He is a trial lawyer with over 25 years of experience handling complex commercial, securities and class action...  |  Read More

Jack F. Williams
Jack F. Williams

Professor of Law
Georgia State University College of Law

He teaches in a number of areas including Bankruptcy, Business, and Commercial Law. His business and bankruptcy...  |  Read More

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