10th Circ. Has Left Less Static For Secured Creditors

Law360, New York (January 2, 2013, 2:44 PM EST) -- On Oct. 16, 2012, the Tenth Circuit reversed the U.S. Bankruptcy Court for the District of Colorado and U.S. District Court for the District of Colorado and held that a creditor bank had a valid security interest in the proceeds of a future sale of a federally issued broadcast license. The Tenth Circuit’s decision mends a split among the lower courts and provides additional assurance for creditors who take a security interest in the proceeds of broadcast licenses.

Tracy Broadcasting Corporation, a Nebraska corporation, operated a...
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