In a significant victory for lenders and other secured creditors, the 11th Circuit Court of Appeals recently reaffirmed the rights of creditors to get a security interest in the proceeds from the sale in bankruptcy of broadcast licenses.

The decision in In re Beach Television Partners follows a developing line of precedent from lower courts, and it conflicts with the position taken by at least one other federal court of appeals. It therefore sets up an opportunity for the Supreme Court to settle this disagreement among the courts.

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