Decision in 'TOUSA' Exposes Fraudulent Transfer Risks for Creditors

, New York Law Journal


Kenneth A. Rosen and Paul Kizel, members of Lowenstein Sandler, analyze the Eleventh Circuit's recent decision holding that subsidiaries of a borrower did not receive reasonably equivalent value in exchange for liens that the subsidiaries granted to lenders to secure in excess of $400 million in debt, allowing them to be avoided as a fraudulent transfer, and that the lenders could be liable to disgorge the funds they received.

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