News & Analysis as of

Lenders

In Alabama: Lenders Must Strictly Comply with Notice Requirements

The Alabama Supreme Court recently released an opinion interpreting the pre-foreclosure notice requirements contained in paragraph 22 of the standard mortgage form. In short, strict compliance is required. The Court in Ex...more

A Legal and Commercial Checklist for Bankable Solar EPC Contracts: A Developer’s Guide

Large-scale solar development is big business, and solar EPC Contracts are big business by association. In Q2 2017, the U.S. solar market installed 2,387 MWdc, an 8% increase year-over-year, and the largest second quarter...more

DOJ Obtains $907,000 Settlement for Auto Lender’s Repossession of Active Duty Servicemembers’ Vehicles

by Goodwin on

On September 18, 2017, the Department of Justice (“DOJ”) announced that it had entered into a $907,000 settlement with an auto loan lender and servicer (“Defendant”). In its co?mplaint,? filed the same day in the United...more

Unitranche: On the up, down under

by Hogan Lovells on

Unitranche facilities have been a feature of the European and US markets for a number of years, and have recently been making their mark in Australia. What is unitranche? A unitranche facility is a single facility which...more

Finding the Unicorn in Lender Liability Litigation

by Bryan Cave on

Investors frequently talk in terms of trying to find the next unicorn, that small start-up company that is going to turn into a billion dollar valuation. Lawyers are like that as well, always looking for that new decision...more

Exporting ERISA After Walter Canada

by Latham & Watkins LLP on

Latham & Watkins partners Bradd Williamson and Mitchell Seider discuss the recent Canadian court decision that dismisses ERISA controlled group claims and its potential impact on lenders and other creditors in restructuring...more

Commercial landlords beware! Time to modify your lease form allowing encumbrance of tenant’s interest?

by Thompson Coburn LLP on

The California Court of Appeal recently held that a lender that took possession of a defaulting tenant’s premises and then transferred its interest to a third party was not liable to the landlord for future rent. In BRE DDR...more

The Slow Demise Of California’s Sham Guaranty Defense

by Weintraub Tobin on

The California Court of Appeal decision in LSREF2 Clover Property 4, LLC v. Festival Retail Fund 1, LP (2016) 3 Cal.App.5th 1067, struck another blow to California’s “sham guaranty” defense – highlighting a recent string of...more

Step Aside, Payday Loans: There’s an Old Kid in Town

by Reed Smith on

In recent years, there has been a dramatic increase in the use of bills of sale, a somewhat antiquated form of security, in relation to individuals raising finance secured against a car they own: the logbook loan. This...more

Federal Tax Liens In Foreclosure Proceedings

by Ward and Smith, P.A. on

Henkel v. Triangle Homes is a North Carolina Court of Appeals case with dueling tax foreclosure proceedings involving the same property. One foreclosure proceeding was for unpaid municipal taxes and the other for unpaid...more

The End of LIBOR: What’s Next for Lenders and Borrowers?

by Liskow & Lewis on

According to Britain’s Financial Conduct Authority, the London Interbank Offered Rate, or LIBOR, will be phased out and abandoned by the end of 2021. This phase out will put lenders and borrowers in a tricky situation as...more

Did You Know? Connecticut Revises Several Secured and Unsecured Lending Provisions

by Ballard Spahr LLP on

Connecticut has revised several provisions involving secured and unsecured lending laws, including, but not limited to, the following...more

Debt Dialogue: July 2017 - Non-consolidation and True Sale Issues for Insurance Company Sponsors — Part One

This two-part article discusses the key concerns, from a non-consolidation and true sale perspective, that arise when an insurance company, as opposed to a bankruptcy-eligible entity, is a sponsor/seller in a securitization...more

Privacy & Cybersecurity Update - July 2017

In this month's edition of our Privacy & Cybersecurity Update, we examine new privacy laws in Germany, an FTC settlement with an alleged consumer loan company over unfair and deceptive practices, the dismissal of a data...more

Ten things to consider when you do a leveraged finance deal in Belgium

by White & Case LLP on

European Leveraged Finance Alert Series: Issue 7 - With the leveraged finance market staying hot, an increasing number of international sponsors are making acquisitions in Belgium, and upcoming changes in the law will make...more

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...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

Be Careful What You Ask For: The Unintended Consequences of Creditor Remedies in Bankruptcy Cases

by Stinson Leonard Street on

To anyone practicing bankruptcy law more than a month, the scenario of a lender secured by a lien against real property, as well as an assignment of rents (“AOR”) is pretty standard fare. Default on the debt occurs, threats...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

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