Indenture Trustee’s Position Upheld, Summary Judgment Granted
Carter Ledyard successfully represented U.S. Bank N.A. in its capacity as Indenture Trustee and Collateral Agent in a bankruptcy dispute before the Southern District of New York. The dispute involved whether liens on the economic value associated with Federal Communications Commission licenses attached at the time the bankrupt debtor, satellite operator TerreStar Networks Inc., entered into an agreement pursuant to which it issued $500 million in senior secured notes. Unsecured creditor Sprint Nextel Corp. had sought to void the liens that U.S. Bank and other creditors had placed on FCC licenses held by TerreStar. Sprint argued that the liens were invalid because there was no transfer of assets prior to the bankruptcy petition. The bankruptcy court rejected Sprint’s argument, reasoning “that an FCC license is a general intangible and that a lien on such an intangible may be perfected prepetition before any proceeds or other consideration is generated and prior to any transfers, sale, or other disposition of the license…”
Jack was honored with the Chairman's Award, in recognition of his "tireless efforts and unending dedication to the foundation."
Mr. McCarthy has joined the firm as a partner in the Litigation Department, bringing with him years of experience in international litigation and arbitration.
Our 2017 Year in Review highlights the cutting-edge work of our clients, both foreign and domestic, and some of the ways we helped them succeed.
Over breakfast at the midtown office, more than 30 members of the private equity community gathered to create a deal flow for all concerned.
Val Vasi discussed aint-money laundering (AML) guidelines in the art world and AML regulations in the financial services industry
Carter Ledyard client Lisa Schwarz, developer of the Comprehensive Resource Model trauma treatment model, prevailed on her motion for contempt against Dr. David Grand in proceedings in the Federal District Court for the…
Together with Her Justice, Carter Ledyard attorneys were successful in guiding pro bono clients apply for their U-Visa, obtain deferred and final approval of legal status, and receive employment authorization.