Commercial Loans Lenders

News & Analysis as of

Pennsylvania Lawmakers Fix Pennsylvania Lawmakers Drafting Errors

On Tuesday, Gov. Tom Wolf signed Act 103 of 2016 (HB665) into law, which changes Pennsylvania’s power of attorney law by excluding commercial transactions from certain provisions of the law. According to the original...more

The Devil's Dictionary of Bankruptcy Terms

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

New EU Securitisation Regulation: Moving in the Right Direction

The European Commission published a draft regulation on a European framework for simple, transparent and standardised securitisation on 30 September 2015 (the “Draft Regulation”). The Draft Regulation aims to achieve a better...more

Secured Lenders – Stay on Top of the Law or Proceed at Your Own Risk

For years, the typical post-default strategy of secured lenders has been to foreclose the collateral through the power-of-sale contained in the deed of trust, credit the foreclosure proceeds to the outstanding loan balance,...more

A Refresher on Term Sheets and Commitment Letters

Term sheets and commitment letters are documents frequently used by lenders to outline the terms of a potential financing. However, these two documents differ with respect to what is required of, and whether the terms are...more

Update: The Consequences of Modifying Pennsylvania's Powers of Attorney Statute Potential Impacts on Commercial Loans & Leases

On April 14, 2015, pending legislation was passed by the Pennsylvania House Judiciary Committee to resolve the current state of flux of confession of judgment provisions and the bill was sent to the Pennsylvania House of...more

Bill Would Authorize Payments For Commercial Loan Referrals

California State Senator Marty Block has introduced a bill, SB 197, that would authorize a licensed finance lender to compensate an unlicensed person or company in connection with the referral of one or more prospective...more

Good News for Commercial Credit Providers – EDR Exemption to Continue

The Attorney- General's Department has announced that the exemption for commercial credit providers (CCPs) from the external dispute resolution (EDR) membership obligation should continue indefinitely. As advised in our Legal...more

Changes to Pa. Power of Attorney Law: A Problem for Commercial Transactions

Secured lenders and other parties entering into commercial transactions face new, potentially problematic requirements under recent changes to Pennsylvania’s statute governing powers of attorney (20 Pa.C.S.A. Ch. 56), which...more

(US) Revised Pennsylvania Statute Creates Power of Attorney Chaos

The Pennsylvania Legislature enacted extensive changes to Title 56 of the Decedents, Estates and Fiduciaries Code affecting powers of attorney, effective as of January 1, 2015. The amendments create a number of issues for...more

Money, Dirt & Steel: 2014-2015 NC Real Property Litigation Update

A snapshot of noteworthy cases from the past year related to lending practices, property rights and construction in North Carolina. Money - Lending: Comprehensive waiver language in loan workout...more

Mistakenly Filed UCC Termination Statement Results in Lender’s $1.5 Billion GM Bankruptcy Unsecured Loan

On October 20, 2014, we issued a Legal News Alert commenting on a decision of the Delaware Supreme Court, on certification from the Second Circuit, regarding the effect of a mistaken UCC-3 termination statement. The Delaware...more

Washington Supreme Court Affirms Washington Federal v. Gentry and Confirms Lenders’ Right to Obtain Deficiency Judgments Against...

The Washington Supreme Court issued an opinion today affirming the right of a lender to obtain a deficiency judgment against a commercial guarantor following a nonjudicial foreclosure. Divisions One and Two of the Washington...more

For the Canadian Cross-Border Finance Lawyer or Lender, A UCC Financing Statement Hypothetical with FAQs

As a U.S. finance lawyer practicing in Canada, Canadian lawyers and lenders frequently ask me about the filing of UCC financing statements. This blog entry describes a typical scenario and memorializes my answers to the...more

Bill Aims To Exempt Venture Capital Company Equity Security Investments From Lenders Law

California requires persons who are engaged in the business of making loans to be licensed under the Finance Lenders Law. Cal. Fin. Code § 22000 et seq. This had been an issue for venture capital funds that extended bridge...more

Expanded Commercial Loan Exemption Under California Finance Lenders Law

As a result of the passage of Assembly Bill No. 1091 (“AB 1091”), persons1 that make only occasional commercial loans in California may be able to take advantage of an expanded licensing exemption under the California Finance...more

Supreme Court of Rhode Island Declares Usury Savings Clauses Void

For public policy reasons, the Rhode Island Supreme Court recently held that usury savings clauses are void and unenforceable. In NV One, LLC v. Potomac Home Capital, LLC, borrowers who had defaulted on their note filed a...more

E.D.N.C. Bankruptcy Court Rules that Borrower Can Raise Unfair and Deceptive Trade Practices Claims Against Lender Based on...

Does a lender have a duty to act in good faith when negotiating with a borrower during a commercial loan modification? In an order issued recently by the United States Bankruptcy Court for the Eastern District of North...more

Q&A With Bilzin Sumberg's Scott Baena

Scott L. Baena is a senior partner with Bilzin Sumberg Baena Price & Axelrod LLP in Miami and chairman of the firm's restructuring and bankruptcy group. His practice focuses on creditor's rights, workouts, bankruptcy and...more

California Supreme Court Eases Admissibility of Oral Statements in Contract Fraud Disputes

California, like most jurisdictions, prohibits parties to integrated contracts from introducing “parol evidence” — this is, evidence of prior written or verbal agreements made by a party to a contract — if those alleged...more

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