Justices Rescind Grant To Hear Ch. 11 Debt Rebranding Case

Law360, New York (August 10, 2017, 3:57 PM EDT) -- The U.S. Supreme Court said Thursday that it erred in June when it took up a North Carolina bankruptcy dispute over whether debt used to finance the acquisition of a golf and residential real estate development was correctly recharacterized as equity after the original loan was sold to settle a foreclosure.

In a two-sentence order, the high court said it "improvidently granted" certiorari to a lender. (AP) In a two-sentence order, the high court said it “improvidently granted” certiorari to a lender that purchased a $6.5...
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