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Results: 1-10 of 183

Federal district court: distressed debt fund not a “financial institution”

  • Alston & Bird LLP
  • -
  • USA
  • -
  • April 8 2014

A federal district court has ruled that a distressed debt fund is not a "financial institution" for purposes of the assignment provisions of a loan

Debtor’s claim against lender and special servicer for breaching duty to act in good faith and to deal fairly survives motion to dismiss

  • Alston & Bird LLP
  • -
  • USA
  • -
  • October 15 2013

In Burcam Capital II, LLC v. Bank of America, N.A., et al, No. 13-00063-8 (Bankr. E.D. N.C. Oct. 1, 2013), an adversary proceeding filed in In re:

“Bad boy” guaranties and bankruptcy: New York court enforces non-recourse carve-out guaranty

  • Alston & Bird LLP
  • -
  • USA
  • -
  • October 14 2013

A recent New York court decision has cleared the way for lenders to seek recovery against non-recourse carve-out, or "bad boy," guarantors during a

The court in ResCap denies in part and grants in part secured lenders’ motion to dismiss committee complaint challenging secured status

  • Alston & Bird LLP
  • -
  • USA
  • -
  • August 28 2013

In an adversary proceeding arising out of the Chapter 11 case of Residential Capital, LLC ("ResCap"), the bankruptcy court denied in part and granted

TOUSA redux: the Eleventh Circuit Court of Appeals affirms bankruptcy court’s avoidance of constructively fraudulent transfers and reverses the district court

  • Alston & Bird LLP
  • -
  • USA
  • -
  • May 18 2012

The outcome of the TOUSA appeal has been much anticipated and closely watched by the lending community, their counsel and advisors, and legal scholars

Recent decisions on non-recourse carve-outs in CMBS loans

  • Alston & Bird LLP
  • -
  • USA
  • -
  • March 19 2012

Recent court decisions in the state of MichiganWells Fargo Bank, NA v. Cherryland Mall, ____ N.W.2d _____, 2011 WL 6785393 (Mich.App. 2011) (Cherryland) in the Michigan intermediate appellate court and 51382 Gratiot Avenue Holdings Inc. v. Chesterfield Development Company, 2011 U.S. Dist. LEXIS 142404 (E.D. Mi. Dec. 12, 2011) (Chesterfield) in a federal district courthave presented lenders, master and special servicers with new considerations in enforcing their rights and remedies, but confronted borrowers and guarantors in real estate finance markets with vastly different legal liability and unexpected economic consequences than had previously been understood or thought to have been documented in CMBS mortgage transactions

Seaway Bank and Trust Company assumes all of the deposits of First Suburban National Bank

  • Alston & Bird LLP
  • -
  • USA
  • -
  • October 25 2010

On Friday, the Office of the Comptroller of the Currency closed First Suburban National Bank, headquartered in Maywood, Illinois, and appointed the FDIC as receiver

Bay Cities Bank assumes all of the deposits of Progress Bank of Florida

  • Alston & Bird LLP
  • -
  • USA
  • -
  • October 25 2010

On Friday, the Florida Office of Financial Regulation closed Progress Bank of Florida, headquartered in Tampa, Florida, and appointed the FDIC as receiver

Morris Bank assumes all of the deposits of The Gordon Bank

  • Alston & Bird LLP
  • -
  • USA
  • -
  • October 25 2010

On Friday, the Georgia Department of Banking and Finance closed The Gordon Bank, headquartered in Gordon, Georgia, and appointed the FDIC as receiver

United Bank assumes all of the deposits of The First National Bank of Barnesville

  • Alston & Bird LLP
  • -
  • USA
  • -
  • October 25 2010

On Friday, the Office of the Comptroller of the Currency closed The First National Bank of Barnesville, headquartered in Barnesville, Georgia, and appointed the FDIC as receiver