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Loans Special Purpose Vehicles

Freiberger Haber LLP

The Assignment Of Litigation Rights And Champerty

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It is not often that we examine a case involving the doctrine of champerty. The last time we did so was on March 8, 2023 (here). We also examined the champerty doctrine in 2021 (here), 2020 (here), and 2016 (here)....more

Cadwalader, Wickersham & Taft LLP

Finance Frontiers February 2024 - Writing to Reach You – Investor Letters and Subscription Facilities

While Chris van Heerden’s recent article gave some cause for optimism over the fundraising environment for 2024, for now on the ground we are continuing to see significantly longer lead times before funds hit their target...more

Mayer Brown

The Benefits of Term Debt Tranches in Fund Finance Products – and What to Consider When Utilizing Term Debt

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With new banking rules on the horizon for financial institutions, lenders are looking for new strategies to bolster lending capacity and accommodate debt issuances. One such option is term debt....more

Cadwalader, Wickersham & Taft LLP

In Depth: Latest Compromise Text in Relation to AIFMD2 Proposals on Loan Origination Funds

On 1 June 2022, the French Presidency published its “final” compromise text in relation to the revision to the EU Alternative Investment Fund Managers Directive (known as “AIFMD2”). According to this latest AIFMD2...more

Manatt, Phelps & Phillips, LLP

Exemption From California Lender Licensing Law for Single Loan About to Expire

An exemption from the California lender licensing law for a person making a single commercial-purpose loan in a rolling 12-month period is about to “sunset” in California, impacting persons who have relied upon the exemption,...more

Cadwalader, Wickersham & Taft LLP

Structural Risks for NAV Secondaries Facilities: The 'Indirect Pledge'

This week we continue our focus on NAV loans and, more specifically, a common structuring issue for NAV secondaries facilities: the “indirect pledge.” For our purposes, NAV secondaries facilities refer to loans to secondary...more

Locke Lord LLP

Help for Main Street: Federal Reserve Announces Expansion of Main Street Lending Program to Provide Greater Access to Credit for...

Locke Lord LLP on

The Main Street Lending Program (“MSLP”), established pursuant to Title IV of the Coronavirus Aid, Relief, and Economic Security Act, or “CARES Act” and Section 13(3) of the Federal Reserve Act, was created to provide up to...more

Morgan Lewis

Main Street Lending Program

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The Federal Reserve Bank of Boston on May 27, 2020 released the legal forms and agreements to be utilized by eligible borrowers and eligible lenders looking to participate in the Main Street Lending Program. ...more

Orrick, Herrington & Sutcliffe LLP

“TALF 2.0”: A Primer for TALF-eligible Asset-backed Security Issuers

In March 2020, the Federal Reserve (the “Fed”) announced that it would re-establish the Term Asset-Backed Securities Loan Facility (“TALF”) program, a market stabilization tool that was developed and last used by the Fed...more

Morgan Lewis

Guide To The 2020 Term Asset-backed Securities Loan Facility (TALF) Program

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The US Treasury Department and the Federal Reserve Bank of New York (the New York Fed) have announced the complete terms of a new Term Asset-Backed Securities Loan Facility (TALF) program, which is intended to address the...more

Mayer Brown

TALF 2020 Update: Federal Reserve Bank of New York Releases FAQs and Revised Term Sheet

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On May 12, 2020, the Federal Reserve Bank of New York (“FRBNY” or the “Fed”) issued new Frequently Asked Questions1 and a revised term sheet2 in connection with the Term Asset-Backed Securities Loan Facility (“TALF 2020”)....more

Ballard Spahr LLP

Updates to The Federal Reserve Board’s New Municipal Liquidity Facility

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On April 27, 2020, the Federal Reserve Board announced updates to its Municipal Liquidity Facility loan program (the Facility) authorized under Section 13(3) of the Federal Reserve Act to provide lending support to states,...more

Ballard Spahr LLP

The Fed Throws a Cash Flow Lifeline to State and Local Governments

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The Federal Reserve Board’s New Municipal Liquidity Facility - On April 9, 2020, the Federal Reserve Board announced a new Municipal Liquidity Facility loan program (the Facility) authorized under Section 13(3) of the...more

Mayer Brown

US Treasury and Federal Reserve Announce Two New Corporate Credit Facilities for Large Employers

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On Monday, March 23, 2020, in response to the evolving economic crisis created by the COVID-19 epidemic, U.S. Treasury and the Federal Reserve authorized the establishment of two new facilities to support credit for large...more

Mayer Brown

Market Participants Request Expansion of TALF 2.

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On March 23, 2020, the Federal Reserve Bank of New York (“FRBNY”) established the Term Asset-Backed Securities Loan Facility (“TALF 2.0 Program”) to support the flow of credit to consumers and businesses. ...more

White & Case LLP

European Real Estate Finance: Recent developments - December 2019

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As part of our periodic updates, here is an overview of recent developments of relevance to participants in the real estate finance market across certain key jurisdictions in Europe....more

Orrick, Herrington & Sutcliffe LLP

Le modifiche alla legge sulla cartolarizzazione introdotte dal Decreto Crescita

Con il decreto legge n. 34 del 30 aprile 2019 recante misure urgenti per la crescita economica (il "Decreto Crescita"), pubblicato in Gazzetta Ufficiale n. 100 del 30 aprile 2019 ed in vigore dal 1° maggio 2019, sono state...more

Orrick, Herrington & Sutcliffe LLP

Cartolarizzazione di crediti deteriorati e leasing le modifiche alla legge n. 130/1999

In data 23 giugno 2017, nella Gazzetta Ufficiale Serie Generale n. 144, Suppl. Ord. n. 31, è stata pubblicata la legge 21 giugno 2017 n. 96 di conversione del decreto legge n. 50 del 24 aprile 2017 (il "Decreto"), contenente...more

Dechert LLP

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

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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

Pillsbury Winthrop Shaw Pittman LLP

The Cape Town Convention in the UK: Effective 1 November 2015

Following accession to the Cape Town Convention1 by the UK on 27 July 2015, the International Interests in Aircraft Equipment (Cape Town Convention) Regulations 2015 (the “Regulations”) will enter into force on 1 November...more

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