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Breach of Contract › Mortgages › Lenders

BCLP

Third Party Rights - Welcome Guidance from the High Court

BCLP on

There is a “a dearth of case law” on s1(1) of the Contracts (Rights of Third Parties) Act 1999 (Act), as observed by Lenon KC, the judge in the case of HNW Lending Ltd v Lawrence [2025] EWHC 908 (Ch). Whilst an accurate...more

Stark & Stark

A Day Late and a Dollar Short: A Mortgagee’s Obligations and Best Practices Upon Receipt of Short Loan Payoff Funds

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In the ever-evolving world of mortgage lending, a scenario often arises where a borrower refinances their existing mortgage with a new lender, but the payoff funds tendered by the new lender are less than the full amount...more

A&O Shearman

Good faith in secured finance?

A&O Shearman on

The court implied a good faith term constraining a lender’s discretion to refuse a borrower's request to dispose of assets in a secured financing context. A power to consider requests for disposals - A facility agreement...more

Stark & Stark

Commercial Foreclosures in Pennsylvania: How Deal Formation Impacts Litigation

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The fact that commercial transactions can very easily become complex is not a novel statement. When financial institutions lend money to commercial entities, the basic documentation required to evidence the loan, promise to...more

Cadwalader, Wickersham & Taft LLP

Further Developments in Mezzanine Foreclosures

Cadwalader, Wickersham & Taft LLP on

The New York State Supreme Court, New York County Commercial Division (the “Court”) decided in U.S. Bank, N.A. v. 342 Property LLC, on February 14, 2022, that a mezzanine lender that is not a party to loan documents that...more

Cadwalader, Wickersham & Taft LLP

Don’t Lend No Hand to Raise No Flag Atop No Ship of Fools: Breach of SPE Provisions by Non-Borrower Exposes Non-Borrower to...

Cadwalader, Wickersham & Taft LLP on

A recent decision of New York’s highest court potentially strengthens the ability of lenders to bring suits against third parties for participation in a borrower’s breach of single purpose entity/bankruptcy remote loan...more

Harris Beach PLLC

Negative Pledge Pros and Cons

Harris Beach PLLC on

Does a Lender really get any protection from a Negative Pledge provided by a Borrower? In some situations where a Lender would like to have security for its loan but the Borrower cannot, or will not, grant a mortgage or...more

Snell & Wilmer

Borrowers Can Avoid Liability Even After a Trustee’s Sale

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Since a lender must have a valid debt and valid lien to conduct a trustee’s sale, a borrower that allows the foreclosure sale to occur impliedly agrees that the debt and lien are valid. In Madison v. Groseth and BT Capital,...more

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