Ninth Circuit Issues a Bankruptcy Opinion Favorable to Lenders to SPEs
September 24, 2012
The Court of Appeals for the Ninth Circuit recently held that an entity that meets the defi nition of a “single real estate” debtor under the Bankruptcy Code may not escape the consequences of such designation simply because it is a subsidiary of a group of companies with integrated and intertwined relationships among them. The author of this article explains how the decision may provide powerful rights not only to lenders to such entities in general, but could significantly enhance the rights of creditors of real estate owning single purpose entities.
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