UBS's Fight to Break the Genesco Deal

UBS committed to finance $1.5 B of the purchase price in the Finish Line buyout of Genesco and then backed out when the credit crunch hit.  Genesco is suing to close. At issue is the relief any court could order.  If the court in Tennessee orders specific performance by Finish Line, it puts the company into bankruptcy unless UBS is also ordered to fund the deal (a double specific performance award).  Genesco would just be a creditor in bankruptcy as any good trustee would move to void the deal.  The court could just give Genesco contract damages for breach, but again, a substantial award could put Finish Line into bankruptcy unless Finish Line could seek indemnification from UBS for the award (arguing the UBS's breach is the true cause of the damages).  A damage remedy is supposedly preferred to specific performance in contract breaches, unless the damages are too difficult to calculate or otherwise do not offer full relief.  It would appear to me that the better result is a damage award against Finish Line with Finish Line and UBS adjudicating who should pay based on the commitment paper.