Restructuring › Loans

Commercial Restructuring & Bankruptcy Alert - February 2013

In this Issue: - Lenders Beware - International Insolvency Laws: Will One Size Fit All? The Debate Continues - ‘Fair and Equitable’ Means More Than Amortization Schedule - Pre-Petition Security License...more

Promises to Keep—Lender Beware: California Supreme Court Expands Parol Evidence Fraud Exception

In 1935, the California Supreme Court in Bank of America National Trust and Savings Ass’n v. Pendergrass prohibited a borrower from introducing external or parol evidence to demonstrate fraud in connection with an agreement...more

Supreme Court of Canada Upholds Priority for DIP Lenders in CCAA Proceedings

Overview - On February 1, 2013, the Supreme Court of Canada (the “SCC”) affirmed the priority granted to Debtor-In-Possession (“DIP”) lenders who provide capital to debtor companies undergoing the restructuring process...more

Massachusetts Offers Guidance On Mortgage Modifications For Non-Delinquent Borrowers And Troubled Debt Restructuring

On December 27, the Massachusetts Division of Banks issued guidance regarding the classification of the modification of a residential mortgage loan as troubled debt restructuring (TDR) when the loan is underwater. The...more