News & Analysis as of

Secured Debt

Ninth Circuit Rules That Hypothetical Preference Actions May Be Considered in Applying the Greater Amount Test

by Jones Day on

In Schoenmann v. Bank of the West (In re Tenderloin Health), 849 F.3d 1231 (9th Cir. 2017), a divided panel of the U.S. Court of Appeals for the Ninth Circuit recently addressed as a matter of apparent first impression...more

Illinois District Court Maintains a High Threshold for Equitable Subordination of Insider Secured Loans

In In re SGK Ventures, LLC, Case No. 15 C 11224, 2017 WL 2683686 (N.D. Ill. June 20, 2017), Judge Durkin of the District Court for the Northern District of Illinois sets out a thorough analysis for addressing...more

Debtor May Be Entitled to Credit for “Reasonable Value” of Property Purchased by Lender at Mortgage Foreclosure Sale

by Stoel Rives LLP on

In Idaho, it has long been understood that a secured creditor that has foreclosed a mortgage may be able to also get a judgment against the debtor for the remainder of the debt, if the proceeds of the foreclosure sale are not...more

Reaping Wild Oats – Creative Strategies Employing the Concepts of Chapter 12 of the Bankruptcy Code for Handling Distressed...

by Ervin Cohen & Jessup LLP on

Handling distressed agricultural loans can be very tricky. Loan balances for agricultural loans are typically smaller than nonagricultural commercial real property secured loans, requiring that they be handled extremely cost...more

Real Estate Finance: Massachusetts

by WilmerHale on

A Q&A guide to real estate finance law for borrowers and lenders in Massachusetts. This Q&A addresses state laws relating to security instruments, usury laws, limitations on personal liability, recording requirements and...more

When the Same Lender Has Both a Senior and Junior Deed of Trust….

If the same lender has both a senior and junior deed of trust on the same security property, can that lender foreclose on the senior lien by trustee’s sale, and then sue the debtor personally for the junior debt?...more

Recent Arizona Commercial Law Cases

by Snell & Wilmer on

Over the last few months there have been several significant commercial law cases in Arizona. These have included four Court of Appeals and three Supreme Court cases, each addressing common loan document provisions and...more

Client Alert on Secured Transactions Law in Azerbaijan - New Law on Secured Transactions with Movable Property in Azerbaijan

by Dentons on

In late May 2017 the President of the Republic of Azerbaijan signed the new Law on Secured Transactions with Movable Property. The law was prepared based on the UNCITRAL Model Law on Secured Transactions. ...more

Be Careful What You Ask For: The Unintended Consequences of Creditor Remedies in Bankruptcy Cases

by Stinson Leonard Street on

To anyone practicing bankruptcy law more than a month, the scenario of a lender secured by a lien against real property, as well as an assignment of rents (“AOR”) is pretty standard fare. Default on the debt occurs, threats...more

Kennis bestuurder/aandeelhouder wordt toegerekend aan vennootschap (Dutch)

by Dentons on

Recently a ruling from the Gelderland Court has been published which deals with the unlawful conduct of a company in granting a right of mortgage for the security of a debtor's debt....more

Thailand Business Security Act 2017

by DLA Piper on

Welcome to the installment of DLA Piper Alerts on Thai laws. The continuing series seeks to provide an overview of laws of Thailand and legal updates on a targeted basis. The Business Security Act B.E. 2558 (2015) (the...more

Hague Securities Convention to Enter Into Effect in the United States - Choice of Law in Respect of Securities Held by...

by Shearman & Sterling LLP on

On April 1, 2017, the Hague Securities Convention — or by its actual name, the Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary — will enter into effect in the United...more

Are the Assets in Custody?

by Bryan Cave on

Lenders to funds and other borrowers often extend credit based on a security interest over assets that are held in custody. The lender is granted a security interest in the relevant custody account and all of the cash,...more

Circulating security interests and competing priorities

by DLA Piper on

The recent Federal Court decision (on 1 March 2017) in Langdon, in the matter of Forge Group Limited (Receivers and Managers Appointed) (in Liq) [2017] FCA 170 considered the situation where a sizeable, unexpected tax refund...more

Fourth Circuit Hands Victory to Lenders in Chapter 13 Mortgage Case

by Ward and Smith, P.A. on

The United States Court of Appeals for the Fourth Circuit—which covers federal courts in North Carolina—recently handed a victory to residential real estate lenders dealing with borrowers who file for Chapter 13 bankruptcy...more

"Loan to own" strategies in Australia

by DLA Piper on

The increase in the availability of alternate capital in Australia over the past decade has provided a landscape for well-tested global restructuring techniques to be applied locally. This includes 'loan to own' strategies....more

Key Issues for Derivative Transactions under the BRRD

by White & Case LLP on

In this article, we outline the main resolution tools available to a resolution authority and consider the broad powers of resolution authorities that may impact existing derivative transactions in the event of a bail-in....more

New UAE Federal Law on mortgaging moveable properties

by DLA Piper on

The UAE has issued the new Federal Law No. 20 of 2016 on Mortgaging Moveable Properties as Surety for Debts (new mortgage law), which was published in the latest issue of the Federal Official Gazette (number 609) on 15...more

Second Circuit Reverses District Court’s Marblegate Decision; Narrows Protections Provided to Bondholders Under Section 316(b) of...

by King & Spalding on

The Trust Indenture Act of 1939 (the “TIA”) codifies a select set of requirements and prohibitions intended to protect perceived “sacred rights” of holders of public bond instruments. When the U.S. District Court for the...more

Incremental Facilities – The LMA Approach

by White & Case LLP on

Incremental Facilities - Once the preserve of large cap deals and top tier sponsors, incremental facilities (which can otherwise be known as accordion or additional facilities) have become a permanent feature of the...more

Eleventh Circuit Decides Surrender Means Just That

by PretiFlaherty on

In the recent opinion of In re Failla, the Eleventh Circuit ruled that when a debtor indicates in a Chapter 7 bankruptcy schedules case that she or he intends to “surrender” property subject to a secured claim, the debtor...more

Client Alert: Federal Appeals Court Rules That Bankrupt Debtors’ Choice to "Surrender" Real Property Waives Their Right to Contest...

Under Section 521(a)(2)(A) of the federal bankruptcy code, a debtor in a chapter 7 bankruptcy must file a statement within 30 days of the bankruptcy filing notifying the court, creditors and the trustee whether the debtor...more

International focus - Taking security over real estate in the Commonwealth of Independent States

by Dentons on

For better or worse, we live in an increasingly globalised world. And in the lifetime of many businesses, there comes a time when they need to expand into new markets in foreign lands. Rather than taking the well-trodden road...more

Asia Pacific Restructuring & Insolvency Guide: Hong Kong

by White & Case LLP on

This is the Hong Kong chapter of the second edition of the White & Case Asia Pacific Restructuring and Insolvency Guide... ..Introduction - On 1 July 1997, Hong Kong became a Special Administrative Region of the...more

Massachusetts Appeals Court Addresses Statute of Limitations for Enforcement of Guaranty

In a case decided at the end of August, the Massachusetts Court of Appeals had the opportunity to address when the statute of limitations expires with respect to the enforcement of a guaranty. In JB Mortgage Co., LLC v. Ring...more

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