Lenders relying on a security interest in the accounts receivable of borrowers need to use caution when financing an intermediary business that could be subject to express or constructive trusts. If an intermediary business...more
9/13/2023
/ Accounts Receivable ,
Bank Deposits ,
Beneficiaries ,
Borrowers ,
Constructive Trusts ,
Due Diligence ,
Financial Services Industry ,
Financing ,
Interest Rates ,
Lenders ,
Perfected Security Interest
Background-
On March 10, 2023, the California Department of Financial Protection and Innovation closed Silicon Valley Bank (SVB) and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for SVB....more
3/13/2023
/ Agents ,
Bank Deposits ,
Banks ,
Board of Governors ,
Borrowers ,
Credit Agreements ,
Default ,
FDIC ,
Lenders ,
Line of Credit ,
Receivership ,
U.S. Treasury