By Christopher Moraff There’s been a lot of talk lately about when the economy will enter full recovery mode and what the so-called “new normal” will look like. A decisive indicator of this transition, and one that is of special interest to those of us in commercial finance, is the state of the lending environment.On […]
In the wake of the recent financial crisis, it has become apparent that in many respects cash is indeed king, particularly as a form of collateral. Thus, secured parties would be wise to ensure that they have a properly perfected security interest in a debtor’s deposit accounts. In that regard, secured parties should consider adding […]
On April 8, 2010, ABF Journal in partnership with the New York Institute of Credit and the Philadelphia Chapter of the Turnaround Management Association, held an Education & Networking Conference in Villanova, PA. In Session 4, bankruptcy judges, bankruptcy attorneys led by moderator Mark Indelicato discussed a variety of topics, one of them being Bankruptcy […]
This article highlights certain legal and practical issues related to making secured bridge loans to emerging companies. In particular, this article focuses on issues related to subordination of VC-provided bridge loans to existing and future senior debt and to appropriately structuring security agreements.
Recent court decisions may have seriously eroded secured creditors’ rights. In this two-part article, a leading restructuring attorney has teamed up with a well-known turnaround professional to describe in Part I new challenges facing lenders, and in Part II to suggest strategies and tactics to help lenders protect themselves.
A letter from William F. Plein, Past Chairman, Commercial Finance Association
In the panic-ridden days following the 2008 financial meltdown, the threatened companies that fared the best were most often those that communicated whatever hard facts they had at hand … even if incomplete or unflattering. When a company’s survival is at stake, honest intentions and even a small amount of clarity can go a long way.
In this issue, we explore the “new” world of Wells Fargo Capital Finance in a roundtable discussion with seven of its senior-most executives. Here we learn how the acquisition of the former Wachovia Capital Finance group has resulted in an ABL powerhouse that’s certain to prove the whole can indeed be greater than the sum of its parts.
Given the long list of costly, contentious and ultimately unsuccessful retail bankruptcies, much attention has been given to the particulars surrounding Filene’s Basement’s Chapter 11 proceedings that culminated with a §363 sale to Syms Corp. What follows is a behind-the-scenes look at these events that bucked a trend in more ways than one.