Another Take On SPEs: The Sky Isn't Falling

Law360, New York (March 24, 2010, 2:02 PM EDT) -- Law360 recently published “The Future of SPEs In Light of General Growth.” The authors of that article were correct to note the significance of the U.S. Bankruptcy Court for the Southern District of New York’s decision (the “General Growth Decision”) in General Growth Properties Inc., bankruptcy case no. 09-11977, (the “General Growth Case”).

This article offers an alternative perspective on the relationship between special purpose entities (“SPEs”) and the U.S. Bankruptcy Code, and the overall impact of the General Growth Decision.

SPEs are not created to...
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