EXECUTIVE SUMMARY - Participations are increasingly being utilized in the finance industry, serving as a mechanism for lenders to manage credit exposure, diversify loan portfolios, optimize capital utilization, and...more
Author Paul Yale* In the summer of 2022, the Executive Committee and Board of Directors of the American Association of Professional Landmen approved the first ever Model Form Participation Agreement to be approved by the...more
The Court of Appeal recently handed down judgment in Yieldpoint Stable Value Fund, LP v Kimura Commodity Trade Finance Fund Limited [2024] EWCA Civ 639, on Kimura's appeal from the High Court's decision that a participation...more
As the secondaries market continues to grow and increase in complexity, we have noticed an uptick in interest among our clients in selling (and buying) loan participations. Participation arrangements can be a powerful tool...more
Question: I am under audit by a dental plan I participate with. The audit has identified a few issues in connection with how my billing employees have been submitting claims for payment. For example, the name of the treating...more
While an insurance carrier “labor[ed] valiantly” to rescue claims over $3.1 million in overpayments to a hospital in its network, the Business Court held it failed because the contract at issue “clearly and unambiguously”...more
The Court of Justice of the European Union (the “CJEU”) held on 6 October 2022 in O. Fundusz lnwestycyjny zamknięty reprezentowany przez O S.A. (Case C-250/21) (the “O Fundusz case”) that the supply of services provided by a...more
Second Department Holds Landlord Covered As Additional Insured Under Tenant’s Policy Where Tenant’s Employee Injured In Freight Elevator Used By Tenant- Bed Bath & Beyond leased third-floor retail and office space at a...more
Last week TRS published Employer Bulletin 22-15 on its Supplemental Savings Plan (SSP), a new SSP Employer Participation Agreement, and a form of resolution for adoption by school boards to approve the Participation...more
More and more couples are opting for a process called a “Collaborative divorce” when their marriage is at an end. At its core, Collaborative Divorce is a dispute resolution process that asks each party to determine his/her...more
Since our last alert on the Illinois Teachers’ Retirement System’s Supplemental Savings Plan (SSP), we have submitted to TRS, in consultation with IASA and IASBO, proposed changes to the TRS’ SSP document to address the...more
On July 31, 2020, the Federal Reserve Bank of Boston (the “Reserve Bank”) released amended form documents and certifications (the “Form Documents”) for the Main Street Lending Program (the “Program”) to accommodate the...more
On July 31st the Federal Reserve posted amended versions of a number of Main Street Lending Program (MSLP) transaction documents, including the Frequently Asked Questions (FAQs) and Term Sheets for MSLP. Many of the changes...more
While the Main Street Lending Program (“MSLP”) was designed to ameliorate economic harm caused by the COVID-19 pandemic, it leaves lenders open to possible litigation exposure if borrowers fail to satisfy their obligations....more
The Federal Reserve Bank of Boston announced the opening of the Lender Registration portal for the Main Street Loan Program on June 15, 2020. Lenders can start the registration process at the program’s lender portal by...more
This alert is the first in a series addressing the issues affecting trade finance documentation and transactions in the current climate. Issues concerning documentation have been at the forefront of discussions in the...more
With COVID-19 having shut down many businesses, lenders increasingly are worried about their borrowers’ ability to repay loans. Lenders are concerned about the value of their collateral because of the loss of the spring...more
On May 27, 2020, the Federal Reserve Bank of Boston released updated Frequently Asked Questions (FAQs) and certain operational documents with respect to the Main Street Lending Program. The additional materials provide...more
The Court of Appeals of Nebraska has affirmed the dismissal of a claim under a reinsurance participation agreement based on lack of personal jurisdiction....more
History of Residual Value Guarantees - In the late 1990s and early 2000s, manufacturers like Bombardier and Embraer increasingly began offering residual value guarantees (RVGs) to airlines and investors, typically...more
We have been tracking certain class actions filed against Applied Underwriters, Inc. and Applied Risk Services, Inc. alleging that the companies fraudulently marketed and sold workers’ compensation insurance programs to...more
The Centers for Medicare & Medicaid Services (CMS) has issued an amendment to the Bundled Payments for Care Improvement (BPCI) Advanced Participation Agreement (Amendment). Changes imposed by the 18-page Amendment were...more
A watershed moment is “the exact moment that changes the direction of an activity or situation . . . a dividing point, from which things will never be the same.” The Second Circuit Court of Appeals’ 2015 decision in Madden v....more
Applied Underwriters beat back an attempt by plaintiffs to certify a class in their lawsuit related to Applied Underwriters’ “EquityComp” and “SolutionOne” workers’ compensation programs. ...more
On September 14, 2017, we reported on the Fourth Circuit’s reversal of a district court’s denial of a motion to compel arbitration, which found that a party was judicially estopped from arguing that a Reinsurance...more