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Turnover Provision Ruling Is Warning For Junior Creditors
Reprinted from: Law360 | June 14, 2022Cadwalader's Michele Maman, Tom Curtin and Marc Veilleux discuss a recent ruling from the Third Circuit that serves as a useful reminder to both junior creditors and senior creditors alike as to how their dealings in an intercreditor arrangement may play out following a debtor's bankruptcy, and provides important insight into the potential remedies that a senior creditor may have available should a junior creditor breach a turnover provision.
