Champerty Clarified

In a decision of great significance to secondary market distressed debt and claims purchasers, the New York Court of Appeals recently held that this type of "standard" assignment of claim does not violate New York's champerty statute.

27 minute readApril 27, 2010 at 10:33 AM
By
Lawrence V. Gelber
David J. Karp
Champerty Clarified

Participants in the secondary distressed debt and bankruptcy claims markets rely heavily on the notion that assignments of distressed bank debt or claims include the rights to enforce the underlying

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