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July/August 2013

Products & Services
Vol. 11 No. 5
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FEATURES

ABLs in the E-Commerce Channel… Maximizing Inventory Value in a Digital World - As e-commerce evolves as a key part of the retail market, ABLs that have a strong understanding of the online model will have no shortage of opportunities to expand their loan portfolios.
Flexibility & Liquidity… ABL Remains Popular in Metals Industry - About a decade ago, when the metals industry faced significant challenges and changes, many companies in the sector turned away from cash-flow facilities in favor of asset-based loans. Today, ABL remains this industry's finance method of choice.
Anatomy of a Deal… Salus Capital’s Entré into Canada Showcases ABL expertise - Salus Capital’s inaugural ABL transaction in Canada underscores the company’s momentum and expanding geographic reach. Northern Reflections reaps the benefits of having a lender with flexible financing options, retail sector expertise and a Canadian presence.
Managing ‘Big Data’ — The Key to True Collateral Value & Risk Control - Michael Charleston, Bayside Business Solutions program manager, outlines how lenders can adapt to a fast-paced, data-rich environment by utilizing portfolio management systems that customize controls and workflows to meet the unique requirements of each collateral type on a deal-by-deal basis.
Best of All Worlds for HFG… Fifth Street Acquisition Brings Access to Capital, Continued Independence. - ABF Journal contributor Lisa Miller caught up with Dan Chapa, CEO of Healthcare Finance Group, to discuss the company’s recent acquisition by Fifth Street Finance and what it will mean in terms of future growth now that HFG has the added advantage of being affiliated with a public company that has access to capital.

FROM ALL FACETS

TURNAROUND CORNER

Considering Recovery Alternatives… Secured Lenders Can Find Success in Orderly Liquidations - Secured lenders face difficult choices when a debtor's reorganization plan fails to achieve defined goals. However, taking the time to explore alternative approaches — such as an out of court orderly liquidation — could result in a better outcome than expected.

SPECIALTY LENDING

IFA Survey: Large Majority of Factors Have High Expectations for 2013 - The 2013 International Factoring Association (IFA) Business Profile and Performance Survey was distributed to about 1,500 factoring industry members in the U.S. and Canada in January 2013. The purpose of the study was to provide information that can be used by members to benchmark their own performance metrics and better identify operating practices and trends.

BANKRUPTCY UPDATE

Loan Can Be Re-Characterized as Equity for Fraudulent Conveyance Purposes - The Court of Appeals for the Ninth Circuit has joined other circuits in holding that the bankruptcy court has the authority to re-characterize a debt obligation as equity in the context of a fraudulent transfer avoidance action under the Bankruptcy Code. For third-party, non-insider creditors, the Fitness Holdings decision is a helpful tool to restore assets to the debtor's estate that were transferred to the holder of an equity interest in the guise of a debt repayment.

FINALCUT

FinalCut: Oreck Files for Bankruptcy - ABF Journal illustrator Jerry Gonzalez offers his portrayal of the Chapter 11 filing by vacuum manufacturer Oreck - assets of which are subject to a lien securing a $20 million line of credit from a lender group led by Wells Fargo - and the Oreck family's bid to reclaim the company from Black Diamond Capital Management.

 

 

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