In multi-debtor bankruptcy cases, it is becoming unclear whether a secured creditor’s claim should or should not be determined by aggregating the collateral of all of the debtors. The valuation method used will have a direct impact on the secured portion of a creditor’s claim.
The authors discuss how recent bankruptcy cases may level the credit bidding playing field for lenders by initiating bidding caps during a bankruptcy sale process. They recommend proceeding with caution: Lenders who are overzealous, especially in “loan-to-own” scenarios, may invite accusations of unfair conduct that could undercut their right to credit bid.
CIT’s Jon Lucas provides insights into why a good lender-borrower relationship is tantamount to ensuring the longevity of a partnership that is rooted on the proposition that a lender may not always have the lowest price but can be counted on to stand by the side of the borrower over the long term.
Located in Chicago’s North Shore suburbs, The Evanston-Wilmette Community Golf Course was overwhelmed by financial troubles at the close of 2012. Tim Dable of Winston & Strawn and Dan Wikel and Chris Maier of Huron Business Advisory detail the turnaround efforts led by the newly elected board members and the course’s staff in 2013 to recover with a great shot out of the rough.
Regular ABF Journal contributor Lisa Miller spoke with five ABL leaders to get their take on the outlook for ABL in 2014. All agree the environment continues to be impacted by excess liquidity and the challenge of finding new money opportunities; however, there is general agreement that clear signs of improvement are emerging.
When Tully’s Coffee found itself in a serious liquidity crisis and facing Chapter 11 bankruptcy, Deloitte CRG stepped in to secure a merchant cash advance. The authors provide insights into why this financing solution can be a perfect fit for any restaurant or retailer that lacks hard assets but has high credit card volume.
Rocco I. Debitetto, partner at Hahn Loeser & Parks, lays out some of the legal pitfalls associated with financing the marijuana industry and how this new area of lending’s collision with bankruptcy raises more questions than answers.
Earlier this year, the Supreme Court heard arguments in Executive Benefits Insurance Agency v. Arkison, a case that may very well change the powers of bankruptcy court judges and settle important questions regarding bankruptcy litigation. Attorney Jeff Wurst walks us through the history and provides insights on the issues, knowing a decision can come down any day.
Mark Fagnani took the helm at Hudson Valley Bank’s new ABL Group in fall 2013 after 34 years as a lender at Wells Fargo, Wachovia, Congress Financial and First Union, in addition to several years running his own advisory company. He shares his vision for how a smaller player in a crowded market can be more agile and play large.
In an interview with ABF Journal, TMA Hall of Fame winner AlixPartners’ Albert A. “Al” Koch talks about how the corporate renewal scene has changed since he joined the firm nearly two decades ago and recalls his most memorable restructuring of all — General Motors.