Four Decades for Justice
On August 14, 2009, Cravath issued to its clients a memo entitled “Agent May Consent to a ‘Free-and-Clear’ Sale or Credit Bid under Section 363 of the Bankruptcy Code over Objection of Dissenting Minority Secured Lenders.” The memo discusses the Court of Appeals for the Second Circuit’s decision, which ruled that a dissenting minority lender could not object to a “free-and-clear” sale in circumstances where the loan documents authorized the agent to act on behalf of the secured lenders and a majority in interest of the secured lenders consented to the agent’s actions.
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.
Attorney Advertising. ©2024 Cravath, Swaine & Moore LLP.