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March 2015

Vol. 13 No. 2
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Chapter 11, Five Cards at a Time: Secured Lenders Hold ‘Em or Bust - To Hahn Loeser & Parks Partner Rocco I. Debitetto, navigating Chapter 11 is like playing a hand of no-limit Texas Hold ‘Em. By understanding the fundamentals of the popular poker variation relying on mathematically and psychologically correct decisions, secured lenders can control the money pot. First move: Take stock of who’s at the table, evaluate their interests and envision their strategy.
ABI Commission Chapter 11 Report — Secured Lender Implications - The ABI Commission’s report on Chapter 11 reform is starting a controversial conversation. Attorneys Damian S. Schaible and Kevin J. Coco discuss specific proposals that will affect secured creditors in large Chapter 11 cases if enacted into law.
Convergence of ABL: Cementing its Global Role - Located strategically at the convergence point between macroeconomic activity and microeconomic need, commercial finance and ABL stand at key junctures in the life of smaller businesses. Jeffrey Sweeney, CEO at US Capital Partners, discusses how a changing landscape in China is validating ABL’s central role at the many intersections of business.
Competition Ahead: New Lending Concepts Tighten Deal Scramble - Howard Chernin, SVP of RAI Group, predicts that regulatory bank scrutiny has opened the door to more innovative financing and lending, meaning industry players will need to rise to the challenge via greater creativity and new market opportunities to compete for future business.


Lending Moxie Offering a Unique Palette of Financing Structures - With the founding of four successful finance companies under their belts, James Irwin, CEO, and Dan O’Rourke, EVP/CCO, talk about the genesis of Metis Commercial Finance and why they believe smaller middle market borrowers can benefit from a lender with a “big-ticket” product suite.


Financing Global Supply Chains Expanding UPS Capital’s International Reach - UPS Capital President Ronald Chang lays out his vision for expanding its financial services offerings and international presence, never missing an opportunity to cultivate the symbiotic relationship with parent company and shipping giant UPS.



Warning Signs of Distress Revealed: Steering By Analytics Tools and Forecasting Tools - External pressures coupled with a lack of planning/forecasting can lead companies to distress. Vipul Adlakha and Kyle Richter, Deloitte Transactions and Business Analytics SVPs, discuss why analytics are vital to middle market companies, and highlight the importance of establishing strong data governance and financial planning strategies.


Transforming Diamonds to Quick Capital: The Alchemy of Luxury Asset Financing - Recognizing that small businesses are the economic engine for growth, luxury assets lending solves liquidity issues for entrepreneurs and asset-rich customers. Tom McDermott, chief commercial officer of Borro, discusses how this new form of lending works and who would benefit from this discreet source of capital.


Unintended Consequence — JPMorgan’s Costly Mistake - In January, JPMorgan Chase lost a court battle with General Motors’ creditors’ committee regarding the accidental termination of JPMorgan’s UCC securing a $1.5 billion loan. Ruskin Moscou Faltischek attorney Jeffrey A. Wurst dissects the resulting court cases surrounding the notorious GM bankruptcy and resulting fallout from JPMorgan’s costly mistake.


Final Cut: Wet Seal to Proceed with B. Riley, Despite Versa’s Attractive Terms - ABF Journal illustrator Jerry Gonzalez provides his take on Wet Seal’s initial approval from a bankruptcy judge January 20, 2015, to proceed with DIP financing from B. Riley, despite a last-minute offer from Versa Capital Management offering attractive financing terms.

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