News & Analysis as of

Bonds Contract Terms

Cadwalader, Wickersham & Taft LLP

What’s in a Name? Court Holds That Despite Its Title, a Security Agreement Also Subordinated Junior Creditor’s Rights to Payment

On October 29, 2021, Judge Laura Taylor Swain, the presiding judge in the Puerto Rico bankruptcy case, ruled that approximately $2 billion in intragovernmental loan claims were subordinated to bonds issued by the Puerto Rico...more

Woods Rogers

GAO Rejects Contractor's Use of AIA Bid Bond for Federal Project

Woods Rogers on

As all construction contractors know, the American Institute of Architects (AIA) provides a series of nearly 200 industry standard consensus forms that define the relationships and terms involved in design and construction...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Staff Encourages Proactive Approach to Libor Transition Issues

On July 12, 2019, the staff of the Division of Corporation Finance, Division of Investment Management, Division of Trading and Markets, and Office of the Chief Accountant (Staff) of the Securities and Exchange Commission...more

White & Case LLP

Change of Control Clauses in High Yield: What You Need to Know

White & Case LLP on

European Leveraged Finance Client Alert Series: Issue 4, 2019 - Most high yield indentures contain a "Change of Control" clause that relates to changes in the beneficial ownership of the issuer. We provide an overview of...more

Dechert LLP

Global Private Equity Newsletter - Fall 2017 Edition: Recent Developments in Acquisition Finance

Dechert LLP on

A delicate balance has evolved over time in leveraged acquisitions with respect to the nature of the contractual relationship between a target and its owners, on the one hand, and the debt financing sources of the buyer, on...more

Patterson Belknap Webb & Tyler LLP

If You Don’t Hold the Bond, You Can’t Sue for Fraud

Commercial Division Justice Eileen Bransten recently concluded that plaintiff bondholders lacked standing to bring fraud claims against the bond obligor and trustee after having sold their interests in the bonds. One William...more

Nossaman LLP

New Management Contract Rules Hot Topic At NABL Conference

Nossaman LLP on

Over a thousand US public finance attorneys converged on the City of Chicago last week for the annual National Association of Bond Lawyers Bond Attorneys Workshop. The conference, the oldest and largest of its kind, featured...more

Bracewell LLP

Management Contracts & Private Business Use–IRS Releases Favorable Guidance

Bracewell LLP on

Coming as welcome news to those involved in the municipal bond market, Revenue Procedure 2016-44 provides helpful guidance for governmental issuers and 501(c)(3) borrowers entering into long-term contracts with private...more

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