Podcast: Credit Funds: Pro Rata Sharing Provisions – Key Points for Lenders
Companies facing financial difficulties often utilize Chapter 11 to help effectuate a restructuring or sale as part of a case filed in the United States Bankruptcy Court. In other instances, a company’s lender – impatient...more
In an appeal heard by the Appellate Division of the Supreme Court in the First Judicial Department of New York, the Court recently ruled that a court may reform a guaranty after the statute of limitations for a reformation of...more
On September 6, 2023, the U.S. Court of Appeals for the Second Circuit vacated and remanded a district court’s decision rejecting borrower defendants’ usury defense on grounds of waiver and collateral estoppel. The lender,...more
The COVID-19 pandemic and the responses adopted by governments around the world to mitigate its human cost will have a considerable impact on economic activity. We are seeing the forced closures of businesses and restrictions...more
A lender did not owe a contractual or tortious duty to advise a borrower about a potentially onerous clause in a loan agreement. The clause in question made the borrower liable for the lender’s hedging break costs if the...more