By Michele Maman, Tom Curtin and Marc Veilleux ( June 14, 2022, 4:53 PM EDT) -- On April 13, the U.S. Court of Appeals for the Third Circuit ruled in CoFund II LLC v. Hitachi Capital America Corp. that a junior creditor breached a turnover provision in an intercreditor agreement when it applied a senior creditor's collateral to satisfy the junior creditor's claims before the senior creditor's claims had been fully paid.[1]...
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