Martin Fingerhut of Blake, Cassels & Graydon outlines a number of issues that frequently arise, from a Canadian legal standpoint, when a U.S. factor purchases, from a Canadian client, receivables that are owed by Canadian obligors.
Somewhat encouraging numbers from this past holiday shopping season are lending good news to the overall economy, as consumer confidence strengthens and retail stocks tick upward. But the modest gains shouldn’t be interpreted as a rebound for the fractured retail industry, which will continue to face losses and a substantial transformation as it sweeps up the mess.
Asset-based lending got off to a tepid start in 2009 and gained momentum part way through the year, only to see issuance taper off by year-end. At $8.55 billion, Q4/09 issuance, while up 45% over Q4/09, was off 15% from Q3/09 levels, to close out the year with the lowest quarterly issuance since the end of 2008. The softness was disappointing and arguably a bit of a surprise.
ABF Journal illustrator Jerry Gonzalez’ visual interpretation of a top-ranked abfjournal.com news story according to our visitors.
Current economic conditions have created great demand for services of financial experts trained in the area of insolvency and restructuring. Rendering financial advisory services in the business turnaround, restructuring and bankruptcy practice areas requires both specialized knowledge and relevant experience.
In mid-2009 when the economy was still mired in a long, hard recession and just beginning to work its way out, members within the International Factoring Association decided it was time to launch another branch to stave off onerous regulation of their non-regulated companies. The result became the American Factoring Association.
The IFA’s annual conference, to be held April 14-17 in Scottsdale, AZ, is a meeting dedicated to banks and finance companies that offer financing through factoring. This year’s conference provides plenty of educational material from beginner to advanced, domestic to international, officer to president and all levels of employee groups.
From its strict use of asset-based lending structures to its strong relations with labor unions, very little about KPS Capital Partners resembles a run of the mill private equity fund. In the following profile, Michael Psaros, co-founder and managing partner, explains this team’s approach to investing in turnaround situations … and a lot more.
In the case of Ogle, Liquidating Trustee of the Agway Liquidating Trust v. Fidelity & Deposit Co. of Maryland, The United States Court of Appeals for the Second Circuit held on November 2009 that a creditor was entitled to its post-petition legal fees incurred on a pre-petition indemnity agreement. In affirming the lower courts, the Second Circuit explained that the Bankruptcy Code (Code) “interposes no bar to recovery.”