The LSTA submitted an amicus brief to the US Supreme Court in the RadLAX Gateway Hotel case, arguing that secured creditors cannot be prevented from “credit bidding” in an auction of their collateral in a “cram down” plan of reorganization.
The LSTA filed an amicus brief supporting a successful petition for certiorari review by the U.S. Supreme Court in a case involving credit bidding.
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Membership in the LSTA offers numerous benefits and opportunities. Chief among them is the opportunity to participate in the decision making process that ultimately establishes loan market standards, develops market practices, and influences the market’s direction.