This article addresses numerous drafting issues identified in New York-law governed direct lending transactions that have either caused borrowers to seek amendments or the presence of which have caused secured hedge providers...more
This CLE webinar will explore the evolution of erroneous payment provisions in credit agreements as a result of the infamous Revlon case. The panel will review provisions developed by market participants, including language...more
On February 20, 2024, the U.S. Supreme Court declined to hear an appeal brought by the trustee of the Millennium Lender Claim Trust challenging the U.S. Court of Appeals for the 2nd Circuit’s August 2023 decision, in which...more
On August 24, 2023, the U.S. Court of Appeals for the Second Circuit in Kirschner unanimously held that notes evidencing syndicated loans do not plausibly qualify as “securities” covered by state and federal securities laws...more
On Aug. 24, the U.S. Court of Appeals for the Second Circuit issued its highly anticipated decision in the case of Kirschner v. J.P. Morgan Chase Bank NA. The three-judge panel unanimously upheld the district court's...more
We have been following the litigation over the question of whether certain syndicated loans are securities. Kirschner v. JPMorgan Chase Bank, N.A., which has been before New York federal courts for years, is now before the...more
As we previously covered, on May 22, 2020, Judge Paul G. Gardephe of the United States District Court for the Southern District of New York dismissed a complaint asserting claims under state blue-sky laws as well as...more
Welcome to Goodwin's Debt Download, our monthly newsletter covering what you need to know in the leveraged finance market. We hope you’re staying warm during the winter doldrums....more
In a decision rendered September 8, 2022, a three-judge panel for the United States Court of Appeals for the Second Circuit (the “Court”) vacated a February, 2021 decision by the United States District Court for the Southern...more
Following Windstream Holdings Inc.’s court battle with one of its bondholders, and its subsequent bankruptcy filing, new credit agreement terms have begun to appear in the U.S. syndicated loan market. Referred to as...more
The Situation: Financial industries around the world are addressing the probable cessation of LIBOR interest rates before 2022 by, among other things, developing language designed to substitute an industry-approved successor...more