Podcast: Credit Funds: Pro Rata Sharing Provisions – Key Points for Lenders
The court reassures lenders on the effect of a termination notice, the meaning of a continuing Event of Default and the effectiveness of reservation of rights letters: Re Pocket Renting. Appointment of administrator...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