United States: Don't Lend No Hand To Raise No Flag Atop No Ship Of Fools: Breach Of SPE Provisions By Non-Borrower Exposes Non-Borrower To Potential Tort Liability - Cadwalader, Wickersham & Taft LLP
A recent decision of New York's highest court potentially strengthens the ability of lenders to bring suits against third parties for participation in a borrower's breach of single purpose entity/bankruptcy remote loan document covenants.
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