2011 Archives - Page 10 of 10

NewStar Business Credit: A CORE Acquisition Creates the ‘Newest Star’ in the ABL Firmament

Late last year, NewStar Financial announced it intended to add asset-based lending to its product offerings by acquiring CORE Business Credit, causing something of a positive stir in the commercial finance community. ABF Journal asked NewStar’s chairman and CEO Tim Conway and CORE’s Michael Haddad to discuss the rationale behind the acquisition.

M&A, Capital Markets Update: There’s Improvement for Sure, But We’re Years Away From the Glory Days of High Valuations

In the following article, Tim Stute, managing director and principal at Milestone Advisors, assesses 2010 in terms of merger and acquisition activity in the commercial finance sector. While such activity has increased in the later half of last year, valuations remained low due to lack of competition from banks. In looking forward to 2011, Stute expects steady improvement in M&A activity with modest, yet rising deal values for the near term.

January 15, 2011 private equity firms Rita Garwood

Lemonade Inc. — Giving the Bankruptcy Process a Great Big Hug

In the following article, SmithAmundsen bankruptcy attorneys Patrick Jones and William Hackney suggest that in some distressed situations, it might be time for lenders to take a different tack. Rather than engaging in a fight, a lender might consider “riding the horse in the direction it’s headed” to his or her advantage.

January 15, 2011 Bankruptcy Code | bankruptcy process Rita Garwood

When is Enough, Enough? Is a Field Audit Program Adequate Protection From Fraud?

The losses lenders experience at the hands of dishonest borrowers can be a very large proportion of the total loans outstanding, and can monopolize a significant amount of lender time. The use of field exams and other financial reviews can help to identify problems at an early stage, thereby allowing the lender time to take action to protect its exposure.

January 15, 2011 accounts receivable Rita Garwood

Tell It Like It Is … Communicating With Your Lender in Difficult Times

Regardless of the reason, when your business encounters serious challenges, your world shifts. These shifts occur on multiple fronts. One of the most important shifts is on the communication front, and how you interact with financial stakeholders — in particular your lenders, but also your investors, vendors and even employees.

January 15, 2011 communication | Effective communication Rita Garwood

FinalCut: NYT — ‘Great Liquidation’ About to Take Place on Wall Street

ABF Journal illustrator, Jerry Gonzalez’ visual interpretation of a top-ranked abfjournal.com news story according to our visitors.

January 9, 2011 Fortress Investment Group | hedge fund manager | hedge funds | investment company ABF Journal

Proposed UCC Article Amendments That Will Impact Secured Lending

With Article 9 provisions changing and inconsistencies among the codes of various jurisdictions, maintaining a secure position can be a complex responsibility. Bottom line, secure positions are the lifeblood to an asset-based lender and an understanding of changing regulation is critical to success.

January 9, 2011 debtor name | security interests ABF Journal

The Skinny on Workouts — Dynamics in Bank Syndicates

To conclude her three-part series intended to de-mystify the workout banker’s motivations, Kristina Anderson of Carl Marks Advisory Group examines some of the dynamics inside senior lender syndicates and how those dynamics affect the syndicate’s ability to respond in workout and default situations. As Anderson notes, distress doesn’t necessarily have to lead to war.

January 1, 2011 credit agreement Rita Garwood

The Fishmonger and the Feds – Unwrapping Ocean Fresh Seafood’s Multi-Million-Dollar Fraud

There was something fishy going on at Massachusetts-based Ocean Fresh Seafood, and it wasn’t just the inventory. By the time Wells Fargo auditors found the source of the smell, they’d been defrauded out of at least $7 million, and the man who allegedly orchestrated the scheme was in the wind. Here’s how it played out…

January 1, 2011 wells fargo Rita Garwood

The Due Diligence Factor — The Importance of Doing Your Homework

Whether you perform your due diligence internally or outsource it, it is important that you do your due diligence before you enter into any lending or factoring agreement. A little homework on the front end will result in a healthy portfolio that is easily managed. More importantly, it will reduce your exposure to unnecessary risk.

January 1, 2011 due diligence Rita Garwood

Category: 2011