TOUSA Case Takes Another Twist

The closely watched TOUSA, Inc. case took another twist on May 15, when the Eleventh Circuit Court of Appeals reversed the decision of the U.S. District Court for the Southern District of Florida and reinstated the bankruptcy court opinion in its entirety. The decision reinforces the level of diligence and care that lenders must undertake in cases involving borrower subsidiaries, especially with respect to upstream loan transactions.

15 minute read June 26, 2012 at 09:28 AM
By
Ted A. Berkowitz And Veronique A. Urban
TOUSA Case Takes Another Twist

The closely watched TOUSA, Inc. case took another twist on May 15, when the Eleventh Circuit Court of Appeals (the Court of Appeals) reversed the decision of the U.S. District Court for the Southern District of Florida (the District Court) and reinstated the bankruptcy court opinion in its entirety.

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