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UB Greensfelder LLP

Resolving Financial Covenant Defaults in Revolving Lines of Credit: Real-World Strategic Considerations for ABL Borrowers

UB Greensfelder LLP on

The scenario is common enough: following a slow quarter, a borrower misses a debt service coverage ratio (DSCR), fixed charge coverage ratio (FCCR), or other financial covenant test required under its revolving credit...more

Troutman Pepper

Court Rules MCA Arrangement Is a Loan Under New York's Usury Laws

Troutman Pepper on

On October 25, 2016, the New York Supreme Court of Westchester County issued a decision in Pearl Capital Rivis Ventures, LLC v. RDN Construction, Inc. that helps clarify the circumstances under which the provision of a...more

Manatt, Phelps & Phillips, LLP

Deferred-Interest Loan Products Cost Issuer $700,000 in CFPB Deal

Manatt, Phelps & Phillips, LLP on

Why it matters - Allegedly deceptive enrollment tactics by third-party marketers cost the issuer of healthcare credit cards $700,000 in a settlement with the Consumer Financial Protection Bureau (CFPB). Springstone...more

Proskauer - New Media & Technology

Clickwrap Agreement Available Only Through Hyperlink Enforceable Under New York Law

Proskauer - New Media & Technology on

Last week, the Southern District of New York followed a long line of precedent under New York law and upheld the enforceability of a website clickwrap agreement, granting a website operator’s motion to compel arbitration...more

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