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Cadwalader, Wickersham & Taft LLP

Going for Gold August 2024 - Credit Portfolio Finance – A Primer on Back-Leverage

The combination of increased regulatory pressure and additional investor demand for higher yield has seen numerous banks gradually displaced by private debt funds in the corporate lending sector (particularly for mid-market...more

Jones Day

Cure and Reinstatement of Defaulted Loan Under Chapter 11 Plan Requires Payment of Default-Rate Interest

Jones Day on

Section 1124(2) of the Bankruptcy Code gives chapter 11 debtors a valuable tool for use in situations where long-term prepetition debt carries a significantly lower interest rate than the rates available at the time of...more

Jones Day

Federal Banking Agencies Propose Long-Term Debt Requirements for Large Banks

Jones Day on

In Short: The Situation: The Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, and Federal Deposit Insurance Corporation (collectively, the "Agencies") have proposed rules...more

Sullivan & Worcester

Fixed and Floating Charges: the Key is Control, but the Key to Control is Drafting

Sullivan & Worcester on

In our April webinar “Risk Mitigation Techniques in Trade Financing Structures”, which I delivered with my colleagues Sam Fowler-Holmes and Maria Capocci, we discussed methods to mitigate risks all the way along the...more

Foley & Lardner LLP

The Future of Venture Debt

Foley & Lardner LLP on

Cash is the lifeblood of any business. Venture-backed companies without a financial history or proven track record are often unable to qualify for a more traditional loan with a big bank. Historically, venture-backed...more

Dechert LLP

Did the Distressed Debt Opportunity Slink by Me When I Wasn’t Looking?

Dechert LLP on

I have spoken to a number of people over the past months who have raised money or built technology to take advantage of a broadly anticipated distressed opportunity which was certainly to be occasioned by the pandemic.  Did I...more

Foley & Lardner LLP

CARES Act – Federal Reserve Main Street Loan Facilities - Updated June 12, 2020

Foley & Lardner LLP on

The Main Street Lending Program, authorized under the CARES Act and Section 13(3) of the Federal Reserve Act, is designed to provide financial assistance to small and medium sized businesses. There will be three Main Street...more

King & Spalding

Southern District of New York holds that intercreditor agreement allows for payment of subordinated lender’s post-petition...

King & Spalding on

On January 27, 2017, the United States District Court for the Southern District of New York ruled that the subordinated creditor was entitled to payment of post-petition interest prior to repayment of the senior lender’s...more

Davis Wright Tremaine LLP

Increased Risk for Buyers of Credit Card Loans

Third party debt buyers may face increased threat of state-law class action lawsuits after a recent Second Circuit ruling prohibiting such debt buyers from invoking federal preemption defenses under the National Bank Act to...more

Bilzin Sumberg

Are Distressed Loan Fund Investors “Financial Institutions” And Why Does It Matter?

Bilzin Sumberg on

Once again, those of us in the commercial finance world are reminded of the age-old adage caveat emptor. This time the warning is directed at hedge funds and other investors with a penchant for purchasing distressed debt from...more

Cadwalader, Wickersham & Taft LLP

Revised LMA Standard Terms And Conditions For Par And Distressed Trade Transactions (Bank Debt/Claims) – ‘The Plainer English...

Background - The Loan Market Association (“LMA”) recently produced a revised version of the LMA Standard Terms and Conditions for Par and Distressed Trade Transactions (Bank Debt/Claims) (the “Revised Terms and...more

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