Mezzanine Lending Video Series (Episode 1)
Advancing Agriculture: Security Interests and Article 9 Challenges (Part 1)
We have recently seen a notable uptick in the usage of equity commitment letters (ECLs) in fund finance transactions and have been spending an increasing amount of time discussing their merits with our clients’ credit teams....more
While some states have moved to adopt model Uniform Commercial Code (UCC) provisions to provide a clear legal framework for commercial and secured transactions involving crypto assets, Oregon has yet to take action. This is a...more
In Chapter 11, value is king. Secured creditors have rights in proportion to the value of their collateral. When a secured creditor and the debtor can't agree on value, appraisals and appraiser testimony become...more
When a debtor files for bankruptcy, it’s axiomatic that all creditors, wherever located, must immediately cease their efforts to collect on debts owed to them by that debtor, right? Not necessarily so, says the United States...more
On April 28, the U.S. Bankruptcy Court for the Northern District of Oklahoma in Kirtley v. Mabrey Bank (In re: Rudick) held that an entity other than the debtor may grant a lien on the debtor’s property, affirming the legal...more
On June 20, 2022, Rhode Island Governor Daniel J. McKee signed into law the Rhode Island Commercial Receivership Act (“CRA”), which updates and modernizes Rhode Island receivership practice. Pub. L. 2002, ch. 107 and 108. The...more
For creditors dealing with debtors in the shadow of bankruptcy, a common scenario repeats itself. The creditor repossesses collateral, attaches an account, or sets off a bank account, and then the debtor files a...more
It is well recognized that, in keeping with the "fresh start" or "rehabilitative" policy, the Bankruptcy Code invalidates after-acquired property clauses in prepetition security agreements, but also includes an exception to...more
It seems that every few years, we experience an unprecedented event that significantly affects the world. From a once-in-a-generation recession to a once-in-a-century pandemic, trade creditors and inventory lenders constantly...more
In Rhode Island, a “bogus” lien on your business’s assets is always just a few clicks away. Indeed, without consent, warning, or any factual basis, any individual with internet access can allege a secured interest in any...more
Custom crush is an effective method for vintners to start and grow their label and brand without requiring the capital intensive investment of a dedicated winery. When evaluating potential custom-crush facilities and...more
Welcome to Episode 2 of Advancing Agriculture with your hosts from Husch Blackwell, Stephanie E. Kaiser and Elizabeth Benefield, where they discuss practical tips and advice on various topics related to ag lending. In this...more
Over the past six months or so, creditors, servicers, and debt collectors alike have been forced to revisit disaster management policies in light of the unique and far-reaching impact of COVID-19: it is at once a nationwide...more
As we have discussed in previous QuickStudies, certain borrowers in industries experiencing particularly adverse economic conditions have taken advantage of flexible terms in their credit agreements to transfer valuable...more
Secured creditors must be ever mindful of their rights in consumer bankruptcy cases. Details that might seem technical or insignificant can mean the difference between a creditor's obligation being secured and being...more
The Third Circuit has recently held in In re Denby-Peterson, 941 F.3d 115 (3rd Cir. 2019) that creditors who refuse to relinquish an item that was seized pre-petition are not subject to sanctions because their refusal does...more
Last October we highlighted an important ruling issued in September 2019 by the Seventh Circuit in the bankruptcy proceeding of In re I80 Equipment, LLC. The Circuit Court in that case reversed a decision from the lower...more
Last year, the U.S. Bankruptcy Court for the Central District of Illinois determined in In re I80 Equipment, LLC that a financing statement which referenced a description of the collateral, but did not contain or attach the...more
On June 19, 2019, the U.S. Court of Appeals for the Third Circuit (the “Court”) issued a decision concerning the distribution of collateral under an intercreditor agreement—finding that adequate protection payments and plan...more
Tolstoy warned that “if you look for perfection, you’ll never be content”, but Tolstoy wasn’t a bankruptcy lawyer. In the world of secured lending, perfection is paramount. A secured lender that has not properly perfected its...more
The United States Court of Appeals for the Fourth Circuit — which covers federal courts in North Carolina — recently handed a big victory to lenders whose borrowers file for bankruptcy protection. In SummitBridge National...more
On May 8, the U.S. Bankruptcy Court for the Western District of Missouri in In re 8760 Service Group held that a creditor had a first-priority interest in certain collateral of a debtor, before a subsequent creditor, despite...more
When the fallout from failed intellectual-property litigation collides with bankruptcy, the complexities may be dizzying enough, but when the emerging practices and imperatives of litigation financing are imposed on those...more
In First Southern Nat’l Bank v. Sunnyslope Hous. LP (In re Sunnyslope Hous. LP), 2017 BL 216965 (9th Cir. June 23, 2017), the U.S. Court of Appeals for the Ninth Circuit held en banc that, in determining whether a chapter 11...more
The "Devil's Dictionary" is a quick-reference guide for commercial lenders and other restructuring professionals. In this series, we highlight many of the buzz words found in the Dictionary and used in today's bankruptcy...more