Issues Archives - Page 2 of 93

Lenders Should Prepare Now for the Distressed-Debt Aftershock of COVID-19

The disruptions caused by the coronavirus (COVID-19) have been far-reaching and will continue to affect all industries in the months to come. These effects are only exacerbating what were already weekening corporate foundations. Michael Fielding examines what lenders should anticipate and how they can deal with distressed debt situations during and after the pandemic.

Collateral Description By Reference

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.

April 8, 2020 collateral description | Jeffrey A. Wurst | Ruskin Moscou Faltischek | UCC Kevin Finegan

Everybody Eats: Why is Food Processing Risky Right Now?

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.

April 8, 2020 Focus Management | food processing | Juanita Schwartzkopf | risky food processing Kevin Finegan

Investor Pre-Funding Rights In Subscription Credit Facilities

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.

Looking Back On A Career In Bankruptcy: Q&A With The Honorable Kevin Gross

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.

April 8, 2020 Judge Kevin Gross | The Honorable Kevin Gross | US bankruptcy Court Kevin Finegan

Multiple Choice Test: Make-Whole Claims in Bankruptcy Are (A) Enforceable, (B) Not Enforceable, (C) Maybe Enforceable

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.

April 7, 2020 Herrick Feinstein LLP | Stephen B. Selbst Kevin Finegan

Bankruptcy Update

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.

April 7, 2020 ABI | American Bankruptcy Institute | Amy Quackenboss | Ed Flynn Kevin Finegan

Amy Quackenboss Takes The Reins at ABI

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.

April 7, 2020 ABI | American Bankruptcy Institute | Amy Quackenboss Kevin Finegan

The Right Approach… Have We Lost Our Way?

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.

April 7, 2020 EisnerAmper LLP | Robert D. Katz Kevin Finegan

What’s Next For LIBOR Transition in 2020?

The 2012 LIBOR scandal, in which a group of bankers manipulated the global interbank rate, rocked the financial world. LIBOR, long used to establish interest rates on commercial and consumer loans, is scheduled to sunset in 2021. The question “what will replace LIBOR?” has persisted. Oscar Stephens provides an overview of the current situation and offers a preview of SOFR, the top contender for LIBOR’s replacement.

April 7, 2020 Greenberg Taurig | LIBOR | Oscar Stephens Kevin Finegan

Category: Issues