Podcast: Credit Funds: Pro Rata Sharing Provisions – Key Points for Lenders
When taking security over a portfolio of investments in a NAV facility, it may be difficult or costly to take security over the borrower’s investments. A common solution is to implement what we refer to as the SPV pledge....more
In August 2025, the Supreme Court of Ohio issued its decision in Huntington National Bank v. Schneider providing important guidance on the obligations of lenders in guaranty and suretyship relationships. The Court rejected...more
In a recent opinion, the Supreme Court of Ohio definitively held that a creditor does not have an affirmative duty to disclose facts that materially increase risk to a surety—and nor does a surety have a duty to disclose to...more
With her latest album announcement last week, she has taken over headlines everywhere, again, so why not Fund Finance Friday? From her three-and-a-half-hour long concerts on her recent Eras tour (149 dates in 51 cities across...more
If you are considering buying distressed real estate, taking the time to thoroughly evaluate the property is one of the most important steps you can take to protect your investment. This process, known as due diligence,...more
In subscription finance transactions where the borrower or another pledgor entity (such as a feeder fund or guarantor) is a Delaware limited partnership or a Cayman Islands exempted limited partnership (ELP), the role of the...more
Whenever a lender is making a commercial real estate loan secured by property which has been leased to one or more tenants, a lender will typically require a Subordination, Non-Disturbance and Attornment Agreement (SNDA). An...more
As during the emergence of the COVID-19 pandemic in March 2020, private credit lenders today face the challenge of adapting to rapidly shifting circumstances driven by a volatile macroeconomic landscape. If past is at all...more
What are they and what do they do? Over the past twelve months, lenders in the maritime transportation industry have increasingly required provisions in loan agreements (the “Russian Oil Provisions”) whereby the borrowers...more
Those involved in the private equity industry will have seen the recent reports of an alleged fraud on a U.S. bank by a Florida-based private equity fund manager, the accusation being that subscription agreements with LPs, as...more
The Delaware Bankruptcy Court recently voided the transfer of bankruptcy claims where the seller failed to obtain the debtor’s prior written consent, as required by the underlying promissory notes. Both the promissory...more