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Fraudulent conveyance actions in bankruptcy often involve large amounts of money and are fought by sophisticated litigants and lawyers before experienced jurists, exposing private equity sponsors and lenders to risk of litigation and loss. A leveraged buyout transaction which results in the purchaser operating a company that is overleveraged, and which has no reasonable prospect of surviving for long, can be held a fraudulent conveyance. In this practice note from Duane Morris LLP, read about the particular risks to private equity sponsors and lenders when portfolio companies end up in bankruptcy.
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