In March , the Court of Appeals for the Second Circuit requested that the Securities and Exchange Commission (SEC) submit a brief on whether a syndicated term loan qualifies as a “security.” The brief was highly anticipated...more
The Board of Governors of the Federal Reserve System (FRB) and certain other federal agencies issued an interagency statement on loan modifications and past-due loan policies in the wake of the economic disruption caused by...more
In a win for lenders, on September 11, the U.S. Court of Appeals for the Seventh Circuit reversed the U.S. Bankruptcy Court for the Central District of Illinois, holding that the collateral description in the UCC-1 financing...more
10/1/2019
/ Appeals ,
Bankruptcy Court ,
Chapter 7 ,
Collateral ,
Commercial Bankruptcy ,
Commercial Loans ,
Financial Institutions ,
Lenders ,
Liens ,
Reversal ,
Security Agreements ,
UCC Financing Statements ,
Uniform Commercial Code (UCC)
LIBOR has been referred to as “the world’s most important number,” and $350 trillion in financial products pegged to LIBOR provide strong reason for believing that description to be true. LIBOR, the London Interbank Offered...more