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Drinker Biddle & Reath LLP | USA | 15 Jul 2011

Challenging secured creditors’ liens in FCC licenses

Recently secured parties, including some indenture trustees, have found the priority, scope, validity and enforceability of seemingly properly perfected security interests in Federal Communications Commission (“FCC”) licenses, authorizations and permits, and any proceeds or value derived therefrom, challenged by creditors in bankruptcy proceedings.

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