Phillip M. Hudson
Arnstein & Lehr Miami Partner Phillip M. Hudson was quoted in a June 29 article in The Bond Buyer, titled “Florida CDD Bankruptcy May Help Bondholders in Future Cases.” The article discusses the Landmark at Doral Community Development District Chapter 11 bankruptcy case, which gave bondholders title to the land after no bidders came forward at auction. Mr. Hudson comments that the bondholders, who are owed about $130 million, may not come out whole. However he believes they will come out far better than they might have. He also states that this was a “landmark” case because the result is counter to another bankruptcy judge’s ruling last year in which bondholders were not allowed to participate as creditors in a developer’s Chapter 11 bankruptcy case.
To read the article in full, click here.