Recent Developments In Acquisition Finance

Law360, New York (May 16, 2011, 3:59 PM EDT) -- This article will survey some of the notable judicial and regulatory developments over the last several months impacting acquisition financing.

Much discussion has surrounded the unexpected decision of the U.S. bankruptcy court in Florida in the 2009 Tousa[1] case, which among other things ordered lenders in the context of an acquisition financing to disgorge loan repayments on the basis that, when incurring the acquisition debt, various subsidiaries of the borrower had not received reasonably equivalent value and were insolvent on a stand-alone basis.

The decision also...
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