Welcome to the latest edition of the Spectrum, covering hot-topic issues in the structured finance markets in the U.S. and UK. This edition features the shifting single-family rental landscape, what’s next for EDGAR, and...more
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
As private credit lenders move up market, Mike Ewald, partner at Bain Capital Credit, joins the Private Market Talks podcast to discuss how big the market might get, when – and if – the syndicated market comes back, and what...more
As of the date of publication of this inaugural Debt Download, the credit markets remain challenging. Nevertheless, we are seeing glimmers of optimism: a hope that with the approaching new year (with its attendant refreshed...more
It is generally the law that mistakenly-received funds must be returned to the sender. Last summer, we covered in detail the now-familiar Revlon case in which that understanding was tested and, surprisingly, not followed.* On...more
Summary of Case - On August 11, 2020, the administrative agent in a loan to Revlon intended to make an interest payment to the lender syndicate and instead mistakenly wired almost $900 million of its own money to the...more