Skip to main content

Legal Update

In re TOUSA—Florida District Court Reverses and Quashes Bankruptcy Court Fraudulent Transfer Decision

14 February 2011
Mayer Brown Legal Update
On February 11, 2011, Judge Alan S. Gold of the United States District Court for the Southern District of Florida issued a 113-page opinion in In re TOUSA, Inc. (the “District Court decision”)1 in which he reversed the TOUSA bankruptcy court’s decision.2 In that prior decision, the bankruptcy court had found that certain lenders (referred to in Judge Gold’s decision as the “Transeastern Lenders”) were the recipients of fraudulent transfers when TOUSA’s indebtedness to them (the “Transeastern Loans”) was paid in full from the proceeds of $500 million in term loans made in 2007 (the “New Term Loans”).


  • Sean T. Scott
    T +1 312 701 8310
  • Brian Trust
    T +1 212 506 2570
The Build a Report feature requires the use of cookies to function properly. Cookies are small text files that are placed on your computer by websites that you visit. They are widely used in order to make websites work, or work more efficiently. If you do not accept cookies, this function will not work. For more information please see our Privacy Policy

You have no pages selected. Please select pages to email then resubmit.