Case Study: In Re JER/Jameson

Law360, New York (February 7, 2012, 12:55 PM EST) -- The United States Bankruptcy Court for the District of Delaware recently granted a motion to dismiss a mezzanine borrower’s Chapter 11 bankruptcy petition at the outset of the debtor’s case.[1] In In re JER/Jameson Mezz Borrower II LLC, The court found that the debtor’s petition had been filed in bad faith because, among other things, a junior mezzanine lender had directed the sole nonindependent director of the debtor to file the petition with the intent of hindering a senior mezzanine lender’s foreclosure efforts and without any...
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