News & Analysis as of

Affirmative Defenses Lenders

Vedder Price

COVID-19 and MAC in Financing Agreements

Vedder Price on

The MAC provision - A material adverse change (“MAC”) provision (depending on where or how it is used) typically references a material adverse change in the business, assets, properties, liabilities, operations, condition...more

White & Case LLP

Sanctioned default? The English High Court considers the effect of foreign illegality on English obligations

White & Case LLP on

As sanctions ramp up globally, it is increasingly important for commercial parties engaged in cross border transactions to have certainty (i) as promisees (e.g. lenders) as to when their counterparties may legitimately avoid...more

Fox Rothschild LLP

Borrower Not Entitled To Attorneys’ Fees Under PA Act 6 Based Solely On Affirmative Defense

Fox Rothschild LLP on

The Pennsylvania Supreme Court held that a Philadelphia homeowner was not entitled to attorneys’ fees under a PA consumer protection law because filing affirmative defenses doesn’t qualify as filing an “action” under the law....more

Womble Bond Dickinson

N.C. Court of Appeals Addresses Common Affirmative Defenses In Commercial Foreclosure Context

Womble Bond Dickinson on

A recent opinion from the North Carolina Court of Appeals addresses some common borrower defenses within the context of foreclosure and statute of frauds issues: compromise and settlement, accord and satisfaction, the...more

Burr & Forman

Wrongful Foreclosure: Acting Offensively May Short-Circuit the Need for a Defense

Burr & Forman on

In recent years, lenders have been forced to defend a record number of so-called “wrongful foreclosure” lawsuits. However, several Tennessee court rulings issued this year indicate that if lenders act quickly and offensively,...more

Spilman Thomas & Battle, PLLC

North Carolina Supreme Court Upholds Enforceability of Waiver of ECOA Claim

Last month, the North Carolina Supreme Court issued an important opinion for lenders in this state. The opinion reversed the North Carolina Court of Appeals’ decision in RL REGI N.C., LLC v. Lighthouse Cove, LLC, which found...more

Spilman Thomas & Battle, PLLC

ECOA Gets More Teeth in North Carolina

In one of my prior “Drive Thrus” in Community Banking Exellence, I reminded everyone that lenders can never require a spousal guaranty, but can request one. The North Carolina Court of Appeals brought that fact home recently...more

Foley & Lardner LLP

The Impact of Costello v. Grundon: Margin Rules and the Enforceability of Loan Documents in Financing Transactions

Foley & Lardner LLP on

A recent decision of the Seventh Circuit Court of Appeals has significant implications for lenders in commercial loan transactions and for law firms that give legal opinions about the enforceability of loan documents....more

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