Podcast - Credit Funds: Make-Wholes and Cramdowns: Understanding the Recent Second Circuit Momentive Decision
When a borrower triggers a monetary default under a loan by failing to make required payments, most loan documents allow the lender to accelerate the loan and invoke a default interest rate and penalties....more
It is a settled principle of insurance law that a liability insurer’s duty to defend is broader than its duty to indemnify. In most jurisdictions, if any portion of a complaint against a policyholder is even potentially...more
Recent decisions from two court cases – Schreiber v. City of Los Angeles1 and Bankers Hill 150 v. City of San Diego2 – make California's Density Bonus Law a powerful tool not just for accessing increased density, but also for...more
German civil law differentiates between residential and commercial leases (Mietvertrag) and leaseholds (Pachtvertrag). Residential or commercial leases are more common than leaseholds: they grant the tenant a right to use the...more
As in previous years, the California Legislature passed a large volume of laws related to housing in the 2021 legislative session. (See Holland & Knight's previous annual recaps of California Housing Laws in the final section...more
This article focuses on the use of Split Dollar life insurance and the use of the Leveraged Split Dollar RolloutTM technique combining the tax arbitrage of life insurance with the financial arbitrage of Split Dollar life...more
The State Density Bonus Law, Government Code section 65915, provides the opportunity to develop additional market-rate housing and receive other benefits in exchange for including affordable units in a project. Governor...more
Par une décision du 19 juin 2017 (n° 392543, GE Money Bank), abondamment commentée, le Conseil d’État avait, de façon pragmatique, jugé que le taux de marché par référence auquel il convient d’apprécier si une société a...more
In 2017, the U.S. Court of Appeals for the Second Circuit held in In re MPM Silicones, LLC that the appropriate interest rate for replacement notes issued to secured creditors under a “cramdown” Chapter 11 plan must be a...more
In its recent decision in Jahangiri, et al. v. 1830 North Bayshore, LLC, the Third District Court of Appeal asserted that a lease extension option based on “market rate” is insufficient to create a binding and effective...more
Courts and professionals have wrestled for years with the appropriate approach to use in setting the interest rate when a debtor imposes a chapter 11 plan on a secured creditor and pays the creditor the value of its...more
Raising the red flag on low interest and interest free loans to trusts - Over the years, trusts have consistently proved to be a reliable and attractive vehicle for many, offering flexibility and benefits with regard to...more
The clarifications address concerns from market participants but leave some questions unanswered. On May 19, the Federal Energy Regulatory Commission (FERC or the Commission) issued Order No. 816-A, which upholds and...more
On April 12, 2016, a panel of the U.S. Court of Appeals for the D.C. Circuit heard oral argument in PHH Corporation’s (PHH) milestone legal battle with the Consumer Financial Protection Bureau (Bureau). During the argument,...more