Global spending on advertising in 2020 is forecast to exceed $700 billion. Bernard Urban investigates the complexities of lending to this space where money moves like molasses and nonbank lenders are entering the game at an increasing rate.
Institutional investors, under pressure to deploy funds, have resorted to taking on even more risk. Hugh Larratt-Smith examines the proliferation of covenant-lite loans in the market and their implications for the industry.
Jeffrey Wurst examines two standards of the UCC for collateral description. He explains why lenders must exercise caution when intending to lend against collateral that is represented not to be part of a prior lender’s collateral package.
Food-related businesses are under stress. Why is this happening to industries that serve such a basic need? Juanita Schwartzkopf explores the causes of this trend, such as changes in consumer preferences, and says lenders and borrowers must remember that cash is king when it comes to today’s food chain.
Lenders and funds continue to explore innovative ways to include a wider pool of investors in the borrowing base. But care should be taken to understand the provisions of a fund’s constituent documents and side letters when considering such an approach.
After serving the U.S. Bankruptcy Court for 14 years, The Honorable Kevin Gross is retiring. In a Q&A with ABF Journal, he looks back on the events that led him to bankruptcy and the most important cases that came before him.
Conflicting decisions by the 2nd, 3rd and 5th Circuit courts have created confusion over the status of make-whole claims in bankruptcy. Stephen Selbst analyzes the controversial cases and calls for a resolution either by a Supreme Court ruling or an amendment to the Bankruptcy Code.
While Chapter 11 filings in 2019 were about half of the peak reached in 2005, there were significant filings by iconic companies. The American Bankruptcy Institute monitors the bankruptcy landscape and lobbies to pass key legislation, like the Small Business Reorganization Act of 2019. Amy Quackenboss and Ed Flynn provide an overview of significant bankruptcy actions in 2019 and look ahead to 2020.
As a new decade dawns, a changing of the guard brings new leadership to the American Bankruptcy Institute. Longtime deputy director Amy Quackenboss has taken the reins upon the retirement of Sam Gerdano.
As the New Year begins, I am becoming more enlightened than ever about the growing proportion of arrogance in our profession. Walking out of some meetings, I feel like I have entered the Twilight Zone, where I am not sure I understand the thinking and logic of the others at the meeting or how conclusions may have been reached. Despite that situation, I have come across a few others that give us the greatest feelings of hope, fulfillment and satisfaction. To kick off 2020, here is a taste of both outcomes.