Podcast: Credit Funds: Pro Rata Sharing Provisions – Key Points for Lenders
In commercial lending, the decision to designate a party as a guarantor or co-borrower is more than a technicality—it can significantly impact a lender’s ability to enforce a loan. Mislabeling a guarantor as a co-borrower,...more
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
One of the foundational provisions negotiated in almost every European leveraged loan agreement is the “Change of Control” definition and associated clauses. This provision is crucial because it directly impacts the risk...more
On August 2, 2024, the Illinois governor signed SB 86 into law to amend the Illinois Know Before You Owe Private Education Loan Act and the Illinois Student Loan Servicing Rights Act. Establishing new requirements that will...more
Section 1124(2) of the Bankruptcy Code gives chapter 11 debtors a valuable tool for use in situations where long-term prepetition debt carries a significantly lower interest rate than the rates available at the time of...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
On December 21, 2022, the California Supreme Court denied review of a controversial Court of Appeal decision from earlier last year that prohibited lenders from charging default interest against the principal balance of any...more
Against the backdrop of the Covid-19 pandemic and global economic slowdown, we are being asked by borrower and lender clients alike whether lenders have a duty of care as regards enforcement. Two recent cases before the...more
Businesses of all types are facing many challenges and uncertainties as a result of the dramatic economic and social forces at work in our current economic environment. In many cases, one of those areas of uncertainty...more