American Bancorp.’s Involuntary Bankruptcy: A New Strategy for Investors in Trust-Preferred Securities
Davis Polk – June 5, 2014 The involuntary chapter 11 bankruptcy filing of American Bancorporation (“American”), commenced by a group of distressed debt investors holding American’s trust-preferred securities (“TruPS”), was upheld by the U.S. Bankruptcy Court for the District of Minnesota pursuant to an order entered on May 27, 2014. This development highlights the use […]