News & Analysis as of

Lenders Loans

When is a Working Capital Agreement a Loan? It Depends on Your Claim

Suppose you’ve entered into a financial arrangement that resembles a lending agreement, but it is not formally designated as such, and you think you’re paying too much....more

Setting the right agenda for TLBs

by White & Case LLP on

European Leveraged Finance Alert Series: Issue 4 - As cov-lite/cov-loose TLB enjoys its time in the spotlight in 2017, sponsors, borrowers, banks and advisors continue to focus on the key areas to consider when planning...more

The ABCs of Fund Finance: Credit Facilities for Secondaries Funds and Funds of Funds

by Dechert LLP on

Private equity funds raised the second-highest level of capital for investments in secondary private equity interests in 2016. According to Preqin, 19 funds secured $23 billion in investor capital.1 This level was surpassed...more

New York Case Is a Win for the Merchant Cash Advance Industry

by Pepper Hamilton LLP on

Providers of cash advances repaid by sales of future receivables in New York can have greater confidence that these advances are not loans and are not subject to usury laws. On March 16, the Supreme Court of New York,...more

Financial Services Quarterly Report - First Quarter 2017: Development of Crowdfunding in France

by Dechert LLP on

During the nascent stages of crowdfunding as a fund raising strategy, there was a great deal of uncertainty in France as to the legality of such activities. In 2014, initial regulations were enacted applicable to crowdfunding...more

The Hague Securities Convention – I. Lending Against Securities in the U.S. After April 1, 2017

The Hague Securities Convention, which goes into effect in the United States on April 1, 2017, will have significant impact on the law applied to all transactions – past and future – collateralized by securities held by an...more

Tennessee's Bankers to CFPB: "Regulation by Enforcement" Concerns Loom Large

by Baker Donelson on

The conference room was filled to capacity as bank presidents, chief compliance officers and lending executives sat in a U shape, facing the two speakers. A fissure of tension hung in the room and the audience looked...more

The Devil's Dictionary of Bankruptcy Terms: Venue

by Polsinelli on

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

NY Licensing Proposal Threatens New Burdens on Financial Services Providers, Reduced Credit Availability

by Ballard Spahr LLP on

Proposed legislation to implement New York Governor Andrew Cuomo's 2018 Fiscal Year Executive Budget would amend the New York Licensed Lender Law to significantly extend its licensing requirements. The proposal threatens to...more

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

by 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

NEW BUSINESS OPPORTUNITY - Italian Lending Market Opens to EU Alternative Investment Funds

by K&L Gates LLP on

On 23 December 2016 the Bank of Italy issued the long-awaited implementing rules outlining the ability of EU alternative investment funds (“EU Credit AIFs”) to engage in direct lending in Italy. As a result, EU Credit AIFs...more

Class Action Against Lending Club and WebBank Headed to Defeat

On Monday, a federal district court in the Southern District of New York granted a motion to compel arbitration in Bethune v. Lending Club Corporation, et al., a closely watched putative class action raising important issues...more

Managing a Dairy in Crisis: A Lender’s Guide

by Varnum LLP on

Managing a failing dairy is always a challenge for agricultural lenders. The complexity of large dairies, the nature of the collateral (live animals and perishable feeds), and the tight margins that exist when milk prices...more

Algorithms and bias: What lenders need to know

by White & Case LLP on

The algorithms that power fintech may discriminate in ways that can be difficult to anticipate—and financial institutions can be held accountable even when alleged discrimination is clearly unintentional....more

Peer-to-Peer Lending Regulation Released by OJK

by White & Case LLP on

In light of the rapid development of peer-to-peer (P2P) lending using information technology (IT) ("P2P Lending") in Indonesia, on 28 December 20161 the Indonesian Financial Services Authority ("OJK") enacted OJK Regulation...more

China Strengthens Supervision on Offshore Chinese Yuan (RMB) Lending

In 2016 stabilizing the exchange rate of Chinese yuan (also known as RMB, the legal currency of China) was a critical challenge for Chinese government. Due to the recent staggering devaluation of RMB, the People’s Bank of...more

Commercial Mortgage Loans and CMBS: Developments in the European Market – Chapter 20

by K&L Gates LLP on

In late 2011 and early 2012, the fragile green shoots of recovery began to peek out from the barren blasted heath of the crisis-blown financial markets. Market activity was spurred by a rare confluence of secular trends,...more

DOJ Drives ECOA Settlement With Bank Over Vehicle-Secured Loans

Acting on a referral from the Federal Deposit Insurance Corporation, the Department of Justice pursued a case against Charter Bank, asserting the financial institution violated the Equal Credit Opportunity Act by...more

D&Os – Be Aware of Creditor Exclusion in Your Insurance Coverage

by Dechert LLP on

The U.S. Court of Appeals for the Fifth Circuit recently held that a Creditor Exclusion provision in D&O insurance coverage may result in significant limitations on the coverage provided to the D&Os, when the underlying...more

Refinancing loans and valuations

by Allen & Overy LLP on

Liability for a negligent valuation relied upon by a lender in refinancing a pre existing loan facility would not be limited to any new funds advanced but extend to the entire refinanced facility. Had there not been a...more

4 Steps For Avoiding FCA Traps For SBA Lenders

by Morrison & Foerster LLP on

Recent U.S. Department of Justice enforcement and qui tam suits demonstrate that Small Business Administration lenders face increasing risk of liability under the False Claims Act. This article provides an overview of SBA...more

Is Bank Debt a Security?: Dangerous Implications of the General Motors Litigation

GM’s term lenders had received $28 million in cash interest during the 90 days prior to GM’s filing, and $1.5 billion in full payment during the bankruptcy, subject to disgorgement if the term lenders proved to be...more

Resolution of Intercreditor Dispute in Favor of ABL Lenders in the RadioShack Bankruptcy Case

by King & Spalding on

On May 11, 2016, the Delaware bankruptcy court issued an opinion in the RadioShack bankruptcy case addressing an intercreditor dispute between Salus Capital Partners, LLC, the “last out” lender in RadioShack’s prepetition...more

New European Legislation Creating Headaches (and Opportunities) for Borrowers

by Foley & Lardner LLP on

New legislation gives European regulators the power to write-down, change the terms of, cancel, and convert into equity the liabilities (including loan commitments) of troubled European lenders. New credit agreements...more

Loss Payee Versus Lender’s Loss Payee: One Word Can Make All The Difference

by Burr & Forman on

When a lender makes a loan secured by personal property, it will perfect its interest in the collateral under applicable law. To further protect the value of the collateral supporting its loan, the lender will also require...more

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