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Lenders Transfer of Assets

Sullivan & Worcester

Fixed and Floating Charges: the Key is Control, but the Key to Control is Drafting

Sullivan & Worcester on

In our April webinar “Risk Mitigation Techniques in Trade Financing Structures”, which I delivered with my colleagues Sam Fowler-Holmes and Maria Capocci, we discussed methods to mitigate risks all the way along the...more

Schwabe, Williamson & Wyatt PC

PPP Loans and Changes of Ownership, Asset Transactions, and Mergers

Effective October 2, 2020, the Small Business Administration (SBA) issued an SBA Procedural Notice regarding Paycheck Protection Program (“PPP”) loans and changes of ownership (the “Notice”). The Notice is addressed to SBA...more

Lowndes

Something New for Lenders to Think About: Divisions

Lowndes on

The Delaware legislature has enacted a change to Delaware LLC law that enables a single LLC to divide into two or more LLCs. A similar procedure is available for Delaware limited partnerships, but this article addresses only...more

Dechert LLP

Do Bankruptcy Courts Have Constitutional Authority to Approve Nonconsensual, Third-Party Releases?

Dechert LLP on

Yes, says the Third Circuit. The Third Circuit recently held that the Bankruptcy Court has the authority to confirm a chapter 11 plan which contains nonconsensual, third-party releases when such releases are integral to the...more

King & Spalding

Explanation of J. Crew “back-door” provision and proposal for how lenders might address this in their documentation.

King & Spalding on

Recently, J. Crew used a “back-door” provision in its credit facility to transfer approximately $250 million worth of intellectual property (“IP”) to an unrestricted subsidiary with the aim of borrowing against the...more

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