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Blockchain for Capital Equipment in a Machine-as-a-Service Model

Subscription-based services, embraced by the software industry as an alternative to traditional models of selling product, provide a steady income stream to providers. Software-as-a-Service, along with the related...more

Good News and Bad News about Unclaimed Property in Wisconsin

Wisconsin has adopted the Revised Uniform Unclaimed Property Act (the Uniform Act”), with a few local variations. 2021 Wisconsin Act 87, published November 6, 2021. The new statute (the “Wisconsin Act”) will be good news...more

Credit Funds, Done Right, Can Be an Opportunity for Banks

Recent changes to the Volcker Rule, which become effective October 1, 2020, will permit banks and their affiliates (for convenience, “banks”) to sponsor credit funds, whose primary assets are loans and other debt instruments...more

The Effect of Tax Reform on Financing Transactions: Thoroughly Review Your Company's Situation

In general, the effects of the new tax law should be very favorable to most corporate borrowers. Nevertheless, there may be situations where a corporate borrower benefits economically from a lower tax rate and other favorable...more

The Phasing Out of LIBOR: Initial Reaction and Preparation

1. Background: Elimination of LIBOR by 2021 - As has been widely publicized, on July 27, 2017, the U.K. Financial Conduct Authority announced that LIBOR (London Interbank Offered Rate) the longtime global interest rate...more

Think Twice Before Making Payroll Advances to Employees

It can be difficult to turn down an employee who asks for an advance on their earnings. However, there are lots of reasons for companies to think twice before making payroll advances to employees....more

Wisconsin Courts Can Force Lenders to Make Prompt Sales of Foreclosed Properties Which Have Been Abandoned by the Borrowers

In a case that “radically revises the law on mortgage foreclosure,” the Wisconsin Supreme Court recently held in Bank of New York Mellon v. Carson, 2015 WI 15, that Wisconsin circuit courts have the authority to order a sale...more

Are Loan Documents Enforceable in Wisconsin?

Three recent decisions call attention to the fundamental issue of the extent to which courts will enforce loan agreements and guaranties in accordance with their terms rather than imposing uncertain standards of fairness,...more

9/25/2013  /  Good Faith , Loan Documentation , Loans

The Impact of Costello v. Grundon: Margin Rules and the Enforceability of Loan Documents in Financing Transactions

A recent decision of the Seventh Circuit Court of Appeals has significant implications for lenders in commercial loan transactions and for law firms that give legal opinions about the enforceability of loan documents....more

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