News & Analysis as of

Lenders

Payday Lenders’ Operation Choke Point Challenge Survives Dismissal

Payday lenders can move forward with their suit against federal regulators challenging the controversial Operation Choke Point, a Washington, D.C., federal court judge has ruled....more

Arrangement Fee Clauses in German Loan Agreements ruled invalid by German Federal Court

by Dechert LLP on

The German Federal Court issued a series of groundbreaking rulings on July 4, 2017. Arrangement fee clauses in German law loan agreements are invalid if they are included in general terms and conditions set by the lender....more

Double Trouble—Is Black Sky Capital Blue Skies for Lenders?

by Perkins Coie on

An annoying question for lenders is whether or not a lender can enforce two loans to the same borrower and secured by the same property. The nagging issue is usually raised when a lender makes (1) a first loan and an...more

Employee Loan Or Compensation?

by Farrell Fritz, P.C. on

Everyone recognizes the importance of debt financing to a business. The business needs liquidity to purchase or improve assets, or to pay expenses. It borrows the necessary funds from an institutional lender that requires...more

Seventh Circuit Affirms Dismissal of $1.5 Billion Malpractice Claim Filed by Lenders Against Borrower's Law Firm Because it Owed...

by Hinshaw & Culbertson LLP on

Oakland Police & Fire Ret. Sys. v. Mayer Brown, 2017 U.S. App. LEXIS 11522, ___ F.3d ___ (7th Cir. 2017) - Brief Summary - Plaintiffs filed a putative class action against the defendant, a law firm that represented a...more

New register of beneficial ownership of UK real estate

by Ropes & Gray LLP on

David Seymour, Ropes & Gray real estate partner, analyses the new register of overseas beneficial owners of UK real estate. _____________________ Real estate is an operational asset by its very nature and it has many touch...more

Supreme Court To Hear Dispute Over Debt Recharacterization

One critical issue affecting complex restructuring cases are efforts by the estate or creditors to recharacterize debt into equity. This can happen in a variety of factual contexts, including where an existing equity...more

SCOTUS to Settle Circuit Split on Rule Applicable to Recharacterization of Debt to Equity Disputes

The Supreme Court has granted certiorari to decide the question of whether bankruptcy courts should apply state law or a federal rule of decision when determining whether to recharacterize a debt claim as a capital...more

FinTech Lenders on Notice: Congressman Launches Investigation into FinTech Lending

Rep. Emanuel Cleaver II has begun an investigation into small business financial technology (FinTech) lending, expressing concern that “some FinTech lenders may be trapping small business owners in cycles of debt or charging...more

Oil & Gas Rights and CMBS Servicing—Transfer Considerations

Question: The borrower pledged oil and gas rights related to the collateral property to the lender. The borrower has notified the servicer that it would like to sell these oil and gas rights. Can the lender approve the lease...more

OCC Issues Retail Lending Handbook Booklet

On April 12, 2017, the Office of the Comptroller of the Currency (the “OCC”) issued a Retail Lending booklet (“Booklet”) as part of the Comptroller’s Handbook. The OCC’s Booklet outlines a framework for evaluating retail...more

The FCA's final ban on right of first refusal/right to act provisions: will it affect corporate lending and acquisition finance...

by Allen & Overy LLP on

On 27 June, the UK Financial Conduct Authority (FCA) published a policy statement setting out the final form of its proposed ban on right of first refusal and right to act provisions relating to the supply of certain future...more

What lenders need to know

The most ignored set of laws in Tennessee that impact commercial developers and their lenders are the construction “retainage” laws. Typically during a commercial project, once a draw is approved/funded by the lender, the...more

Ten (plus one) things to consider when you do a leveraged finance deal in Italy

by White & Case LLP on

European Leveraged Finance Alert Series: Issue 6 - Legislative changes in Italy (starting from 2012) facilitated leveraged transactions facilitating security in both bank and bond financings and aligning bond and bank...more

House member launches fintech lending investigation

by Ballard Spahr LLP on

Congressman Emanuel Cleaver, II announced last week that he had launched an investigation into small business financial technology (fintech) lending by sending a letter to the CEOs of several fintech small business lenders. ...more

Overriding Interest

by K&L Gates LLP on

Welcome to the latest edition of Overriding Interest. Inside this issue: - The UK Government Proposes Innovative Transparency Requirements for Overseas Owners and Buyers of UK Property - Mees Update - Announcements,...more

Lending Club Decision Provides Guidance For Bringing Section 11 Claims Based on Weaknesses in Internal Controls

We have been following defendants’ motions to dismiss in the In re Lending Club Securities Litigation class action, No 3:16-cv-02627-WHA, in the United States District Court for the Northern District of California (“the...more

Special Purpose Vehicles’ Authority to File for Bankruptcy Revisited

by Dechert LLP on

In order to file for bankruptcy in the United States, a company needs to secure the appropriate corporate authorizations as required by its governing documents. What happens when a debtor does not obtain appropriate...more

The Current CMBS Experience – And a Path Forward

by Alston & Bird on

The CMBS industry is not attracting repeat borrowers in sufficient numbers and must improve the performing borrower experience if it’s to survive. Our Finance Group presents the results of our survey of players in the CMBS...more

European Acquisition Finance Debt Report 2017

by DLA Piper on

Welcome to DLA Piper’s European Acquisition Finance Debt report 2017. This report, now in its eighth year, presents detailed results of our survey of 300 participants active in the European acquisition finance debt...more

Mortgage Broker Remuneration Reforms – What You Need to Know

by K&L Gates LLP on

Concerns have been raised by the Australian Government in recent times in relation to the effect of current remuneration structures in the mortgage broking market on the quality of consumer outcomes. During 2016, the...more

Thinking outside the box: the basics of Unrestricted Subsidiaries

by White & Case LLP on

European Leveraged Finance Alert Series: Issue 5 - We are often asked by clients whether an "Unrestricted Subsidiary" can be used to complete a transaction which may not otherwise be permitted by their high-yield notes...more

CFPB Takes In-Depth Look at Small Business Lending

by Goodwin on

On May 10, 2017, the Consumer Financial Protection Bureau (CFPB) began gathering information regarding small business financing needs in an effort to encourage small businesses—especially ones owned by minorities and women. ...more

Nationwide announces position on onerous ground rents

by Hogan Lovells on

Nationwide announced recently that it will not lend on new build residential leasehold properties if the amount of ground rent is more than 0.1% of the purchase price....more

Rejection Junction What’s Your Function

It’s happened to every dealer, more so in the last eight or so years than ever – the lender has approved funding; the RISC has been signed by the customer and dealer, and assigned by the dealer to the lender; the title work...more

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