The PRA has released an important statement on its approach to funded reinsurance. Our view is that the statement endorses the conceptual principle that funded reinsurance (particularly to offshore counterparties) should best...more
In In re CII Parent, Inc., the Bankruptcy Court for the District of Delaware affirmed a secured lender’s prepetition exercise of its proxy rights and its subsequent removal and replacement of the directors/managers of the...more
In our webinar of 23 March 2023, Sam Fowler-Holmes and I looked at some common structures in trade finance. When discussing structuring warehouse financing, we mentioned that one key mitigator of risk in such structures...more
Welcome to the latest edition of MoFoReal, our newsletter highlighting recent activities and other developments in MoFo’s European Real Estate team. In this edition, we provide an overview of recent case law on appropriation...more
In this client alert we set out some of the key lessons from the recent judgment in ABT Auto Investments Ltd v Aapico Investment Pte Ltd [2022] EWHC 2839 (Comm), which considers the validity of appropriation as an enforcement...more
On July 23, 2020, the Board of Governors of the Federal Reserve System (the “Federal Reserve”) released Frequently Asked Questions (“FAQs”) for its Nonprofit Organization New Loan Facility (the “NONLF”) and Nonprofit...more
Parties not wishing to have agreements unrelated to the settlement made of record before the PTAB should not refer to those agreements in the PTAB settlement agreement. Any agreement referenced in a settlement agreement...more
DTN, LLC v. Farms Technology, LLC, IPR2018-01412, -01525 (June 14, 2019) - On June 11, 2020, the PTAB designated as precedential its 2019 decision in DTN, LLC v. Farms Technology, LLC. The decision concerns the scope of...more
In the very unusual period in which we find ourselves today, it seems to be common wisdom that an avalanche of commercial loan defaults is coming. As such, it is a good time to take a fresh look at the terms and provisions...more
The novel coronavirus (COVID-19) pandemic is presenting the global markets with unprecedented challenges. Governments, corporations and the financial markets have been struggling to evaluate and adapt to the social and...more
The Southern District of New York has concluded that an insurer’s threat to terminate a reinsurance agreement if the other insurer to the agreement did not comply with its obligations did not terminate the agreement or give...more
This article discusses pre-delivery payment—or PDP—financing transactions for aircraft. PDPs are progress payments that a purchaser makes to a manufacturer while new aircraft are being built. ...more
Most business aircraft purchasers, especially high net worth individuals, rely on advice from their various resources when acquiring such expensive assets. Those resources typically include brokers, OEMs, lawyers,...more
Aircraft Lender Not Responsible for Customer’s Structuring Strategy - Most business aircraft purchasers, especially high net worth individuals, rely on advice from their various resources when acquiring such expensive...more
District court case shines a light on the extent and limits of a lender’s duties in both structuring loan transactions and exercising remedies. Borrowers need to be mindful in structuring the tax and cross-border aspects...more
In light of recent efforts by UK and EU financial authorities to incorporate the SFTR, managers of Alternative Investment Funds and Undertakings for Collective Investment in Transferable Securities that engage in securities...more