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Senior Transeastern Lenders v. Official Committee of Unsecured Creditors (In Re Tousa, Inc.)

Court of Appeals for the Eleventh Circuit

Decided May 15, 2012No. 11-11071PublishedCited by 47 opinions

1Opinion of the Court

PRYOR, Circuit Judge:

This bankruptcy appeal involves a transfer of liens by subsidiaries of TOUSA, Inc., to secure the payment of a debt owed only by their parent, TOUSA. On July 31, 2007, TOUSA paid a settlement of $421 million to the Senior Transeastern Lenders with loan proceeds from the New Lenders secured primarily by the assets of several subsidiaries of TOUSA. Six months later, TOUSA and the Conveying Subsidiaries filed for bankruptcy. In an adversary proceeding filed by the Committee of Unsecured Creditors of TOUSA, the bankruptcy court avoided the liens as a fraudulent transfer…

2Cases cited18 opinions

  1. Bonded Financial Services, Inc., Debtor-Appellant v. European American BankCourt of Appeals for the Seventh Circuit · 1988
  2. In Re Chase & Sanborn Corporation, Debtor. Paul C. Nordberg, Creditor Trustee v. Arab Banking CorporationCourt of Appeals for the Eleventh Circuit · 1990
  3. In Re Chase & Sanborn Corporation, F/k/a General Coffee Corporation, Debtors. Paul C. Nordberg, as Creditor Trustee v. Societe GeneraleCourt of Appeals for the Eleventh Circuit · 1988
  4. In Re Bullion Reserve of North America, a California Corporation, Debtor. Curtis B. Danning, Chapter 7 Trustee v. Michael L. MillerCourt of Appeals for the Ninth Circuit · 1991
  5. Olympia Equipment Leasing Company, Alfco Telecommunications Company, and Abraham Feldman v. Western Union Telegraph CompanyCourt of Appeals for the Seventh Circuit · 1986

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3Cited by47 opinions

  1. In Re: Craig Piazza, Craig Piazza v. Nueterra Healthcare Physical Therapy, LLCCourt of Appeals for the Eleventh Circuit · 2013
  2. Tronox Inc. v. Kerr McGee Corp. (In re Tronox Inc.)United States Bankruptcy Court, S.D. New York · 2013
  3. Russell v. Perkins Ex Rel. International Management Associates, LLCCourt of Appeals for the Eleventh Circuit · 2015
  4. In Re: Custom Contractors, LLC, Deborah C. Menotte v. United StatesCourt of Appeals for the Eleventh Circuit · 2014
  5. Goodman v. H.I.G. Capital, LLC (In re Gulf Fleet Holdings, Inc.)United States Bankruptcy Court, W.D. Louisiana · 2013

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