News & Analysis as of

Investment Funds Default

Cadwalader, Wickersham & Taft LLP

My Achy Breaky Default February 2024 - Common Events of Default in Subscription Credit Facilities: How Parties End Up Here, and...

Private equity sponsors and their funds benefit from the flexibility of revolving credit facilities and the ability to borrow significant amounts of capital on short notice. But that fast access to liquidity can quickly be...more

Cadwalader, Wickersham & Taft LLP

Cinco Celebration May 2023 - Renewed Attention for Defaulting Lender Provisions

In years past defaulting lender mechanics in a subscription credit facility may have been viewed as boiler plate language and, in most cases, the relevant provisions have not received much attention. In light of recent events...more

Cadwalader, Wickersham & Taft LLP

Missing Miami Already February 2023 | Issue No. 210 - Been There, Gonna Do That

At the outset of every credit agreement negotiation, the implicit goal is to reach an agreement on representations and covenants that allows the Fund to operate as needed while also protecting the lender(s) against current...more

Bond Schoeneck & King PLLC

Fiduciaries Facing Downturn in the Market Should Take Steps to Ensure Compliance with the Prudent Investor Act

Trustees face added risk of litigation during times of economic trouble. After the dot-com bubble burst in 2001, and mortgage defaults led to crisis in 2008, trust beneficiaries and others pointed their fingers at individual...more

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