Court Issues Decision Concerning Proceeds of Collateral and Granting Debtor Rights to Interest Notwithstanding Collateral Agreement’s Express Statement
24 October 2011
Mayer Brown Legal Update
A recent Federal District Court decision from the Southern District of New York, Universal Bonding Insurance Company v. Bay Property Associates, et al., No. 09 Civ. 10030(FM), 2011 WL 4790885 (S.D.N.Y. Oct. 5, 2011), addresses two issues of interest to secured parties and debtors.