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Appellate Courts › Loans

A&O Shearman

Two Appellate Courts Weigh “Uptier” Transactions Under New York Law

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On December 31, 2024, the United States Court of Appeals for the Fifth Circuit and the New York Appellate Division, First Department, both issued decisions evaluating the validity of so-called “uptier” transactions under New...more

Lowenstein Sandler LLP

Fifth Circuit Rejects Non-Pro Rata Uptier Transaction From Serta Simmons; Landmark Ruling May Have Chilling Effect on Similar...

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On December 31, a unanimous three-judge panel of the U.S. Court of Appeals for the Fifth Circuit (the Court or the Fifth Circuit) held that the controversial $200 million Serta Simmons Bedding (SSB) uptier financing...more

King & Spalding

New York Appellate Court Blocks Mezzanine Borrower’s Claim Against Lender for Breach of Implied Covenant of Good Faith and Fair...

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On October 5, 2023, the First Department of New York’s Appellate Division limited the ability of borrowers to use a claim for breach of the implied covenant of good faith and fair dealing as a club to prevent lenders from...more

Adams & Reese

Lenders: Keep Your Original Promissory Notes Safe; Loan Purchaser Fails to Recover on Note Claims in Florida Decision

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A recent opinion out of the Florida Fifth District Court of Appeal makes clear that the failure of a lender or its successor in interest to introduce and authenticate original promissory notes at trial may result in the...more

Husch Blackwell LLP

Federal Appeals Court Blocks Department of Education's New Borrower Defense to Repayment Rules

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On Monday, the U.S. Court of Appeals for the Fifth Circuit issued a nationwide injunction blocking the U.S. Department of Education (ED) from implementing its new borrower defense to repayment (BDR) rules. The BDR rules,...more

Procopio, Cory, Hargreaves & Savitch LLP

California Appellate Court Invalidates the Ability to Obtain Default Interest on Loans That Have Not Matured

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When a late fee is assessed upon the entire principal balance of the loan, is it invalid when the loan is not fully matured? This question, so important to lenders, has been addressed in California after the conclusion of...more

McGlinchey Stafford

When does a plaintiff have a right to a jury trial under the CSPA? - McGlinchey Commercial Law Bulletin

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Fraudulent Transfer Act Allan v. Allan, 8th Dist. Cuyahoga Nos. 110177, 110179, 2022-Ohio-1488- In this appeal, the Eighth Appellate District reversed the trial court’s decision under the Fraudulent Transfer Act case to...more

Troutman Pepper Locke

Second Circuit Rules Private Student Loans May Be Discharged in Bankruptcy

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On July 15, the U.S. Court of Appeals for the Second Circuit ruled that private student loans are not explicitly exempt from a debtor’s Chapter 7 bankruptcy discharge....more

McGlinchey Stafford

The Bullet Point: An Ohio Commercial Law Bulletin: Do I Have An Enforceable Contract?

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Contract Interpretation McCruter v. Travelers Home & Marine Ins. Co., 11th Dist. Lake No. 2019-L-167, 2021-Ohio-472- In this appeal, the Eleventh Appellate District affirmed in part and reversed in part the lower court’s...more

Harris Beach Murtha PLLC

New York State Court of Appeals Provides Guidance on Acceleration in Foreclosure Cases

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The New York State Court of Appeals recently provided much needed guidance to mortgagees on the issue of acceleration and determining the commencement date for the statute of limitation after acceleration in the decision...more

Bradley Arant Boult Cummings LLP

Florida Court Affirms That Merchant Cash Advance Product Not Subject to Usury Statute

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This month, a Florida appellate court held that a merchant cash advance (MCA) purchase and sale agreement was not a “disguised loan” and, therefore, was not subject to Florida’s criminal usury statute. MCA purchase and sale...more

Farrell Fritz, P.C.

Transfer Of Funds between Related Entities – Indebtedness Or Something Else?

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A closely held business may come to our firm for any number of reasons. The owners may be selling the business, for example, or they may be thinking about spinning off a division. In some cases, the owners are considering the...more

Bradley Arant Boult Cummings LLP

A Good Day for Lenders: Texas Supreme Court Rules that Lenders Still Entitled to Equitable Subrogation for Non-compliant Home...

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On April 24, 2020, the Texas Supreme Court upheld a lender’s right to equitable subrogation for non-compliant home equity loans, ruling that lenders who fail to cure within the statutorily mandated 60-day period may recoup...more

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