Southeast Banking

A member of the firm represented the indenture trustees for over $300 million of subordinated debt in the Southeast Banking bankruptcy case in appellate proceedings before the federal Fifth Circuit Court of Appeals. The appeal involved a dispute between holders of senior and subordinated debt over the extent to which the senior debt could recover postbankruptcy petition interest out of distributions that would otherwise be made on the subordinated debt. The subordinated indenture trustees ultimately prevailed.

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