On April 13, 2022, the Court of Appeals for the Third Circuit ruled in CoFund II LLC v. Hitachi Capital America Corp. that a junior creditor breached a turnover provision in an.
The Court of Appeals for the Third Circuit ruled in CoFund II LLC v. Hitachi Capital America Corp. that junior creditor breached intercreditor agreement turnover provision when applying senior creditor collateral to satisfy their claims before senior creditor claims paid.