News & Analysis as of

FRB, FDIC, OCC AND NCUA Issue Joint Supervisory Guidance Concerning Troubled Debt Restructurings

The FRB, FDIC, OCC and NCUA (collectively, the “Agencies”) jointly issued guidance to financial institutions entitled InterAgency Supervisory Guidance Addressing Certain Issues Related to Troubled Debt Restructurings (the...more

Germany’s Insolvency Reform Enables Loan-To-Own Strategies

Frank Grell is a partner at Latham & Watkins who chairs the firm’s German Restructuring and Insolvency Practice. Grell reflects on some of the major changes brought about by Germany’s 2012 Insolvency Act (Insolvenzordnung),...more

Sixth Circuit Affirms Dismissal Of ECOA Discrimination Claims

On August 14, the U.S. Court of Appeals for the Sixth Circuit affirmed a district court’s dismissal of claims by a borrower of Iraqi origin that a bank violated ECOA when it refused to restructure the borrower’s loan. 16630...more

Lessons From the Wake of Economic Collapse: Avoiding Personal Liability in Loan Origination and Restructuring

Although today’s lending economy continues to follow a fairly steady path toward stability, the recent economic downturn has given rise to an increasing number of lawsuits by the Federal Deposit Insurance Corporation (“FDIC”)...more

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

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