In late March, Cole Taylor’s Michael Sharkey participated in a panel of M&A experts at the Association for Corporate Growth’s Capital Connection in Atlanta. The panel spoke to the challenges of getting deals done in the current marketplace. We asked Sharkey to bring the essential points of this panel to ABF Journal readers.
For the third year in a row, ABF Journal polled senior lenders from leading asset-based lending shops. And while last year, survey participants reported the somber beat of an economy in recession persisted, the sentiment seems to have sweetened in the time that has passed.
Missing deadlines, poor data and information flow, and reworking previously completed borrowing bases and valuations engender costs that fall heavily on service providers, but also impact the resources of a lender. Deals subject to extensive delays form a poor foundation for future cooperation between the lender and the company. The following article offers five point to consider in order to avoid a drain on resources — financial or otherwise.
Each year at this time, we at ABF Journal like to check in with leading asset-based lenders for a review of the year that’s been and a look forward to the one ahead. It became clear that we are on the brink of something promising as we push further into 2010; but with lenders and borrowers still testing the waters, it’s not entirely clear when they’ll take the plunge. What seems fairly certain, however, is that when they do, they may not dive as deep as they once did.
ABF Journal illustrator, Jerry Gonzalez’ visual interpretation of a top-ranked abfjournal.com news story according to our visitors.
ABF Journal illustrator, Jerry Gonzalez’ visual interpretation of a top-ranked abfjournal.com news story according to our visitors.
Two recent Supreme Court decisions — Bell Atlantic Corp. v. Twombly and Ashcroft v. Iqbal — have threatened to dramatically change the framework under which federal complaints are analyzed for sufficiency. These decisions will place a substantial burden on plaintiffs in federal suits.
On March 22, 2010, the Third Circuit Court of Appeals, which covers the districts of New Jersey, Pennsylvania and Delaware, issued a decision that is of ground breaking importance to secured lenders. This decision arises out of the Philadelphia Newspapers, LLC1 bankruptcy case pending in the Eastern District of Pennsylvania and seriously affects the right of secured lenders to credit bid in a sale effected in connection with a plan of reorganization.
Given the extraordinary credit crisis American businesses have been weathering, we thought that Merchant Factors’ outlook on various borrower sectors is an excellent barometer for commercial finance companies. Adam Winters, the company’s president and CEO offers a sector by sector report card. Some sectors move to the head of the class, some show scant improvement and others aren’t making the grade.