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A recent decision in the U.S. Bankruptcy Court for the Southern District of Florida, In re Tousa, has received widespread attention for its near-wholesale rejection of insolvency “savings clauses,” and the resulting order requiring lenders to disgorge hundreds of millions of dollars
Bankruptcy-related developments during the first half of this year have sent shock waves through the secured lending, derivative, and distressed debt trading communities
In the current economic environment, many banks have lost significant capital and are under immense pressure, regulatory and otherwise, to recapitalize
