Podcast: Credit Funds: Pro Rata Sharing Provisions – Key Points for Lenders
Our new insightful and informative series, “Protecting Lenders: Strategic Responses to Borrower Default," is designed to provide comprehensive guidance on managing borrower defaults effectively. This four-part series covers...more
This article continues a series offering practical guidance to developers, owners, and project teams on how to proactively harmonize American Institute of Architects (AIA) construction documents with the broader contractual...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
The term “boilerplate” originates from the printing industry, where “boilerplate” referred to metal plates with standardized text used for newspapers and other publications. In legal documents and contracts, boilerplate...more
Borrowers and lenders negotiating commercial loan agreements should use precise contractual language to avoid having terms implied into their agreements. In MacDonald Hotels Limited & Anr v Bank of Scotland Plc [2025] EWHC 32...more
Minority senior secured lenders in syndicated deals rely on, among other provisions, the "sacred right" protections contained in the credit documents to protect the benefit of their bargained-for agreement: primarily, that...more
EXECUTIVE SUMMARY - Subscription credit facilities rely on the obligations of investors to a private investment fund (“Fund”) to contribute their capital commitments to the Fund when called. From a subscription credit...more
Legal assignments under section 136 of the Law of Property Act 1925 (LPA 1925) are used in many financing transactions, including secured lending transactions and transactions involving receivables purchase arrangements, and...more
Highlights: Stablecoins are likely to be characterized as general intangibles under the UCC of non-Article 12 states....more
As set out in our previous Cabinet News & Views issue of December 2024 here, the Court of Appeal has found that some commissions paid to car dealerships for arranging loans were potentially unlawful as the loan agreements did...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
The widely reported directive tasking the US Department of Government Efficiency and the General Services Administration (GSA) with the termination of roughly 7,500 federal office leases nationwide will have far-reaching...more
Among the many financial innovations that came out of the COVID era, non-pro rata uptier transactions as a liability management exercise (“LMEs”) are among the more controversial. While lawsuits challenging non-pro rata...more
Automated loan software can be effective for documenting consumer loans and some basic low-value commercial loans. However, most commercial transactions require greater attention on the front end than simple form generation....more
Introduction & Key Takeaways - The year 2024 ended with some major legal fireworks, as two important courts issued contrasting New Year’s Eve decisions on the validity of “uptier” liability management transactions that have...more
The United States Court of Appeals for the Fifth Circuit (the “Fifth Circuit”) ruled on December 31, 2024 that Serta Simmons Bedding’s (“SSB”) 2020 uptier exchange included a transaction that, contrary to the assertions of...more
Join us for a Womble Bond Dickinson webinar tailored for private equity and data center professionals. Discover the latest legal insights and strategies to navigate the complex landscape. We will explore the critical legal...more
When negotiating credit agreements, lenders will focus on how to maximize the prospect of their loan being repaid in full at maturity...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
Under CPLR 7502(c), a court in “the county in which an arbitration is pending…[is permitted to] entertain an application…for a preliminary injunction in connection with an arbitration that is pending or that is to be...more
On July 9, 2024, the Consumer Financial Protection Bureau issued a consent order against a nationally chartered bank that, among other things, includes a number of allegations related to the bank's policies regarding...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
Who may be interested: Board of Directors; Registered Investment Advisers; Registered Investment Companies; Broker-Dealers; Transfer Agents; Compliance Staff - Quick Take: The SEC announced that it settled charges against...more
On 24 May 2024, the English High Court granted final injunctive relief to Barclays Bank Plc (Barclays), both in the form of an anti-suit injunction and an anti-enforcement injunction, arising out of a syndicated loan...more
As readers of this blog no doubt are aware, clients sometimes take a “shoot first, ask questions later” approach during the early stages of litigation. This is especially true when bringing a CPLR 3213 motion for summary...more