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Commercial Loans Syndicated Loans

Baker Donelson

Kirschner Underscores the Importance of Perfecting Security Interests

Baker Donelson on

Commercial lenders can breathe a collective sigh of relief with the recent opinion from the United States Court of Appeals for the Second Circuit. In Kirschner v. JP Morgan Chase Bank, N.A., the court affirmed a lower court's...more

Goodwin

Second Circuit Rules that Syndicated Loans Are Not “Securities” Under State and Federal Law

Goodwin on

On August 24, 2023, the U.S. Court of Appeals for the Second Circuit in Kirschner unanimously  held that notes evidencing syndicated loans do not plausibly qualify as “securities” covered by state and federal securities laws...more

Morrison & Foerster LLP

Recent Second Circuit Decision Holds That Term Loans Are Not Securities in a Win for Participants in the Syndicated Loan Markets

In Kirschner, the Court of Appeals for the Second Circuit unanimously affirmed a district court order that held that notes evidencing term loans were not securities but rather “[l]oans issued by banks for commercial...more

BCLP

Crisis Averted: Second Circuit Rejects Effort to Recast Secured Loans as Securities

BCLP on

On August 24, 2023, the Second Circuit prevented turmoil in the commercial lending market, ruling in Kirschner v. JP Morgan Chase Bank, N.A. (JPM), et al. that syndicated secured term loan notes were not securities for...more

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