Renovate America's Ch. 11 Loan Gets Nod After Lender Deal
Law360 (January 27, 2021, 6:11 PM EST) -- A lender providing $50 million in post-petition financing to home improvement lender Renovate America Inc. made concessions Wednesday that resolved an objection to the loan package made by the official committee of unsecured creditors.
During a virtual hearing, attorneys representing lender and stalking horse bidder Finance of America Mortgage LLC said it would alter the terms of its financing agreement by eliminating liens on avoidance actions as part of the debtor-in-possession loan's collateral package, and would only acquire causes of action against directors and officers it intended to hire in the event its acquisition of the debtor is approved by the...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!