Corporate Restructuring and Bankruptcy partner Thomas T. Janover was quoted in Compliance Reporter and Credit Investment News articles about the ruling of Chief Judge Bernstein in the M. Fabrikant & Sons (a Kramer Levin client) bankruptcy case broadly defining transferred rights. Sellers of bank debt under the Loan Syndication and Trade Association trade documents essentially transfer all of their rights, according to the ruling. Janover was quoted as saying that the importance of the decision is that it clarifies what the market knows regarding when the seller sells a distressed bank loan on an LSTA document. "Assigned rights include all rights, claims, causes of action. There is no retained interest by the seller, unless expressly reserved by contract,” Janover said.