Private credit funds (PCFs) are emerging as key players in the subscription and net asset value (NAV) line market, significantly impacting fund financing. Regulatory changes, economic trends, and strategic innovations are...more
7/23/2025
/ Banks ,
Capital Requirements ,
Credit Funds ,
Financing ,
Investment Funds ,
Lenders ,
Loans ,
NAV ,
Partnerships ,
PCFs ,
Private Equity ,
Regulatory Requirements ,
Risk Management ,
Securitization ,
Securitization Standards
The landscape of subscription line lending is undergoing significant transformation, with both private credit funds (PCFs) and traditional banks playing crucial roles. PCFs, which pool capital from institutional and...more
7/23/2025
/ Banks ,
Capital Rules ,
Credit Funds ,
Financial Institutions ,
Financing ,
Investment Funds ,
Investors ,
Lenders ,
Loans ,
PCFs ,
Private Equity Funds ,
Private Funds ,
Subscription Services
The Ninth Circuit Bankruptcy Appellate panel recently reaffirmed the longstanding principle that a UCC-1 financing statement securing personal property must be filed at the debtor’s location. In a recent case, the lender did...more
5/23/2025
/ Appeals ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Jurisdiction ,
Lenders ,
Liens ,
UCC Financing Statements ,
Uniform Commercial Code (UCC)
In Worthy Lending LLC v. New Style Contractors. Inc., New York’s highest court, the New York Court of Appeals, has ruled that a security interest includes a lender’s right to force the borrower’s account debtors to remit...more
The U. S. Court of Appeals for the Second Circuit heard oral arguments on March 9 in Kirschner. A reversal of the lower court’s holding — that syndicated loans as an asset class are not securities for purposes of securities...more
A 2020 case that held that syndicated loans as an asset class are not securities for purposes of the securities laws is making a return to the spotlight as an appeal threatens to upend the decision....more
The best-structured loan covenants in credit facilities are flexible enough to allow a borrower to grow, while reducing the lender’s risk of loss. However, many models and projections underlying those covenants are at risk of...more
On Dec. 31, 2021, the New York Department of Financial Services announced that commercial finance providers doing business in New York state will receive additional time to comply with the New York state Commercial Finance...more
On April 28, the U.S. Bankruptcy Court for the N.D. of Oklahoma in Kirtley v. Mabrey Bank (In re Rudick) held that an entity other than the debtor may grant a lien on the debtor’s property, affirming the legal standard that...more
On December 31, 2021, the New York Department of Financial Services (Department) announced that commercial finance providers doing business in New York state will receive additional time to comply with the New York State...more
On June 23, the New York County Supreme Court issued a rare preliminary injunction temporarily halting a mezzanine lender’s UCC foreclosure sale of the Mark Hotel in New York City because the procedures for the foreclosure...more
7/9/2020
/ Borrowers ,
Commercial Property Owners ,
Coronavirus/COVID-19 ,
Executive Orders ,
Foreclosure ,
Foreclosure Sales ,
Governor Cuomo ,
Irreparable Harm ,
Lenders ,
Mezzanine Lenders ,
Moratorium ,
Preliminary Injunctions ,
Uniform Commercial Code (UCC)
Lenders should view as cautionary tales two recently handed down decisions regarding UCC-1 financing statements and the perfection of security interests. On December 20, 2019, the U.S. Bankruptcy Court for the District of...more
2/24/2020
/ Chapter 12 ,
Commercial Bankruptcy ,
Debtors ,
Due Diligence ,
Lenders ,
Perfected Security Interest ,
Retail Installment Sales Contracts ,
Security Agreements ,
UCC Financing Statements ,
Uniform Commercial Code (UCC) ,
Unsecured Debt
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)