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Parent obligor can pledge subsidiary’s collateral with subsidiary’s knowledge and consent

  • Reed Smith LLP
  • -
  • USA
  • -
  • December 11 2013

The Third Circuit held that a parent obligor could effectively pledge as collateral the deposit account of its subsidiary, with the subsidiary's

Bank loses possessory lien following turnover of funds to trustee should have sought adequate protection

  • Reed Smith LLP
  • -
  • USA
  • -
  • June 12 2013

The bank, which held a possessory lien in the deposit account of the debtor, lost its lien when it turned over the funds in the account to the trustee

Subrogation to ‘claims’ entitles subrogee to vote on behalf of itself and subrogor

  • Reed Smith LLP
  • -
  • USA
  • -
  • September 14 2011

A junior and senior lender’s respective loans were secured by the same piece of land

Court grants parent companies standing to sue lender as third-party beneficiaries of loan commitment agreements

  • Reed Smith LLP
  • -
  • USA
  • -
  • June 15 2011

A real estate lender agreed to finance three existing projects by lending money to three separate Single-Asset Bankruptcy Remote Entities (SABREs), owned by certain real estate investments trusts, and to finance $160 million in future ventures of the trusts, with further SABREs to be created as each deal came to fruition