In a case of significance to the secondary loan and distressed claim market, a North Carolina state court has entered an 'anti- suit injunction' barring a group of secondary, secured debt holders (the 'Fund Defendants'), from commencing any actions against Wachovia Bank.
Anti-Suit Injunctions: Is the Best Defense a Strong Offense?
In a case of significance to the secondary loan and distressed claim market, a North Carolina state court has entered an 'anti- suit injunction' barring a group of secondary, secured debt holders (the 'Fund Defendants'), from commencing any actions against Wachovia Bank. The case, <i>Wachovia Bank, NA and Wachovia Capital Partners, LLC v. Harbinger Capital Partners, et al.</i>, Civ. Action No. 07-CVS-5097 is pending in the General Court of Justice, Superior Court Division (Mecklenburg, NC) (the 'State Court Anti-Suit Action'), but its parties and the underlying facts arise from the Chapter 11 case of <i>In re Le-Nature, Inc.</i> pending in U.S. Bankruptcy Court, Western District of Pennsylvania (the 'Bankruptcy Case').
By
Adam H. Friedman And Fredrick J. LevyThis premium content is locked for LawJournalNewsletters subscribers only
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