Williams Mullen's Comeback Plan: Part IV - How Banks Think About Loan Defaults: Lessons for Borrowers in Troubled Times
COVID-19 Comeback Plan: Part III - How Banks Think About Loan Defaults: Lessons for Borrowers in Troubled Times
Williams Mullen's Comeback Plan: Part II - How Banks Think About Loan Defaults: Lessons for Borrowers in Troubled Times
Williams Mullen's COVID-19 Comeback Plan: Part I - How Banks Think About Loan Defaults: Lessons for Borrowers in Troubled Times
Episode 3: Professor Peter Molk Interview on Drafting Around LLC Default Rules
Connecticut Collections: How to get paid if you are owed money? Part 1: Pre and Post-Judgement Collection Specifics
Weekly Brief: DOJ Memo Details Justification For Killing US Citizens
Bill on Bankruptcy: Delaware to Continue Dominating Bankruptcy
Defaulting on a bank loan in the UAE is regulated by the Commercial Code (federal decree-law No. (50) of 2022) and the Civil Procedure Law (federal decree-law No. (42) of 2022). Further, the Central Bank of UAE issued Loan...more
Parties often include bankruptcy and insolvency provisions in their agreements to protect themselves should the contract counterparty file for bankruptcy or take other insolvency-related steps. While many of these provisions...more
The frontier for construction project investment continues to grow – not just geographically and technologically – but also structurally, in the legal sense. Both equity and debt investors can employ a variety of complex...more
Recent headlines have revealed distress in the real estate market, which may lead to opportunities for investors willing to take a bit of risk. There are many examples all over the country of groups with debt looking for...more
Introduction In the UAE, defaulting on a bank loan is regulated by two important laws: Federal Decree-Law No. 42/2022 on Civil Procedure Law and Federal Decree-Law No. 50/2022 on Commercial Transactions, specifically Bank...more
Having covered how to prepare for an enforcement in Part 1 and stressed the importance of valuation evidence in enforcements in Part 2, the focus of our mini-series now turns to implementing the enforcement....more
This is the first article in our mini-series on European real estate enforcements and restructurings. Given the continued financial stress being experienced across the global economy, we expect that lenders in the real estate...more
New York attorneys representing commercial lenders often find use for the confession of judgment. This unique tool enables creditors to obtain a monetary judgment against debtors by filing a previously executed affidavit,...more
Loan defaults and financial distress among long term care (LTC) facilities, such as skilled nursing facilities (SNFs), assisted living facilities (ALFs) and memory care facilities, are on the rise. The COVID-19 pandemic has...more
A recent opinion from the Michigan Court of Appeals explained that when a debtor defaults under a confirmed chapter 11 bankruptcy plan, a creditor can enforce its rights in state court, and perhaps also in the bankruptcy...more
Coming out of the COVID-19 pandemic, the auto finance industry will face a number of issues when it comes to self-help repossession following a borrower’s default. A number of jurisdictions across the country have put...more
G Challenges to Arbitration Award- Hughes v. Hughes, 10th Dist. Franklin No. 19AP-865, 2020-Ohio-5026- In this appeal, the Tenth Appellate District affirmed the trial court’s decision and confirmed an arbitration award... ...more
Economic and fiscal challenges of implementing debt relief in Africa - While the COVID-19 pandemic continues to pose unprecedented challenges to countries worldwide, the impact is even more critical on developing countries...more
Leveraged finance defaults are rising as the impact of COVID-19 is felt, but covenant-lite terms, government intervention and support from financial sponsors have mitigated fallout from the pandemic. Leveraged finance...more
In the very unusual period in which we find ourselves today, it seems to be common wisdom that an avalanche of commercial loan defaults is coming. As such, it is a good time to take a fresh look at the terms and provisions...more
During these unsettled times, there is heightened concern around the implications for borrowers under their secured credit facilities. Broadly these fall into three categories: (1) drawing funds under existing committed...more
A recent debtor-friendly Indonesian Constitutional Court decision (putusan) raises uncertainty as to a creditor's right to exercise its self-help remedy (parate executie) in respect of assets subject to fiducia security....more
Constitutional Court Accepts Judicial Review of Fiducia Security Law - Following the judicial review of Article 15(2) and Article 15(3) of Law No. 42 of 1999 on Fiducia Security (the “Fiducia Law”), the Constitutional...more
Many steps creditors take in the process of directly or indirectly originating a vehicle finance agreement are designed to protect the creditor in the event its credit risk assessment was off and the consumer defaults. A...more
In a related update, we called attention to risks and pitfalls to lenders and lessors when seeking prepayment premiums and other charges upon the occurrence of an event of default: Lenders Beware: Acceleration May Defeat...more
On July 2, 2019, the United States Bankruptcy Court for the Southern District of Mississippi sent a clear message to secured lenders that their security interests on a contractor's account receivables, even if perfected, will...more
On June 14, 2019, the U.S. Court of Appeals for the Fifth Circuit issued an opinion affirming bankruptcy and district court decisions finding that, under the terms of the confirmed Chapter 11 bankruptcy plan, the debtor’s...more
In March 2019, Judge Stuart M. Bernstein of the U.S. Bankruptcy Court for the Southern District of New York ruled that lenders using clear and unambiguous language in their loan agreements may be entitled to prepayment...more
In a win for lenders, on March 18, the U.S. Bankruptcy Court for the Southern District of New York held that an unambiguous make-whole provision in a loan contract was enforceable under New York law, despite the fact that the...more
Many states, including Maryland and Pennsylvania, recognize the common law form of ownership of property as “tenants by the entireties” for both real and personal property, including bank accounts. Under that form of...more