The In Re Tousa Fraudulent Transfer Decision: Impacts on Debt Trading, Derivatives Trading, Commercial Lending

A recent decision in the U.S. Bankruptcy Court for the Southern District of Florida, In re Tousa,1 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. The decision raises numerous practical problems for participants in the secondary loan […]