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Sullivan & Worcester

Sullivan works with ITFA on Launch of Short Term SWIFT FI Trade Loan Template

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London, UK – Geoffrey Wynne, partner and head of Sullivan's Trade & Export Finance Group, worked with an ITFA working group headed by Paul Coles, chair of its Market Practice Committee, to develop a Short Term SWIFT Financial...more

Pillsbury Winthrop Shaw Pittman LLP

High Court of England and Wales Decision Clarifies “Lender Discretion”

Borrowers and lenders negotiating commercial loan agreements should use precise contractual language to avoid having terms implied into their agreements. In MacDonald Hotels Limited & Anr v Bank of Scotland Plc [2025] EWHC 32...more

A&O Shearman

Good faith in secured finance?

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The court implied a good faith term constraining a lender’s discretion to refuse a borrower's request to dispose of assets in a secured financing context. A power to consider requests for disposals - A facility agreement...more

Mayer Brown

Understanding Cash Control Events in Subscription Finance

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EXECUTIVE SUMMARY - Cash control provisions are critical features of any subscription credit facility, safeguarding lenders’ primary repayment sources while also potentially impacting the Fund’s cash management operations....more

Moore & Van Allen PLLC

Special Situations Client Bulletin - Quick Guide to Credit Document Transfer Provisions for Loan Purchasers

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Credit documentation transfer provisions, which may in the past have been viewed as rather boilerplate, have increasingly become points of contention in the documentation process. Today these provisions are often highly...more

Emmet, Marvin & Martin LLP

COVID-19 AND THE LAW: MAC/MAE Clauses in New York Credit Agreements

With the COVID-19 pandemic continuing to adversely impact businesses across the globe, for the past year lenders have been reviewing their portfolios for credit degradation. Credit agreements will often contain a clause in...more

Cadwalader, Wickersham & Taft LLP

Something Special, April 2021 | Issue No. 23: What’s So Special about Special Purpose Entities?

Lenders often require their borrowers to be “special purpose entities” in real estate transactions. This is a way that lenders can mitigate their bankruptcy risk in the event that the borrower or any of its parent entities...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Lenders Should Use COVID-19 Extensions And Forbearances To Review Loan Documents To Identify and Address Potential Security and...

As lenders are undoubtedly aware, the coronavirus/COVID-19 outbreak has or will cause significant issues with payments from their borrowers as the pandemic sends shockwaves through the economy. Extensions on current,...more

Cohen & Gresser LLP

COVID-19: Will Borrower Defaults Increase?

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On 11 March 2020, the Bank of England (the “Bank”) warned of “an economic shock that could prove sharp and large” resulting from the coronavirus outbreak that started in Wuhan, China, at the end of 2019. Presenting a package...more

Jackson Walker

COVID-19 & Your Business: Frequent Questions

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With heightened concern about the possible spread of COVID-19, a number of issues arise that concern businesses of all kinds. In this article, we discuss some questions companies frequently ask. Because physicians and...more

Herbert Smith Freehills Kramer

FDIC Views on Leveraged Lending

The FDIC Fall 2019 edition of Supervisory Insights contained an article entitled “Leveraged Lending: Evolution, Growth and Heightened Risk”. In the article, the FDIC noted that the credit agreement terms have continued to...more

Carlton Fields

Florida Court Confirms Substantial Compliance Standard Concerning Foreclosures

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The Florida Second District Court of Appeal recently issued a long-awaited opinion in Green Tree Servicing v. Milam. Until this decision, the district courts in Florida had not spoken directly on the issue of whether strict...more

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