Four Decades for Justice
On May 22, 2012, Cravath issued to its clients a memo entitled “Court of Appeals Cautions Creditors to Exercise Due Diligence in Accepting Payoff from a Borrower’s Affiliates.” The memo discusses the United States Court of Appeals for the Eleventh Circuit’s long-awaited decision, which upheld a bankruptcy court’s ruling affecting lenders. The court ruled that a refinancing and payoff of secured lenders using proceeds of a new loan to financially troubled affiliates that were not obligated on the original loan was a constructively fraudulent transfer that could be recovered from the paid lenders.
Celebrating 200 years of partnership. In 2019, we celebrated our bicentennial. Our history mirrors that of our nation. Integral to our story is our culture.
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