Category: Legal

Loan Modifications and Forbearance Agreements in the Age of COVID-19

The COVID-19 pandemic has caused a great deal of financial stress for borrowers, which means loan modifications and forbearance agreements have become necessities. Inez M. Markovich of McCarter & English and Howard Brod Brownstein of The Brownstein Corporation outline what lenders and borrowers should expect.

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. 

Retail Relief: Amend the UCC to End the Filing Requirement to Perfect Consignment Interests

Placing goods on consignment is a common occurrence in retail, but to perfect those goods, consignors are required to file with the UCC and give notice to other secured parties. Many consignors fail to follow this procedure and end up as unsecured creditors if the retailer files for Chapter 11. Stephen Selbst argues it is time to change the law.

Interested in a Better Mousetrap? Arbitration: It’s About Time!

Jeffrey Wurst observes federal judges currently spend most of their time handling criminal and discrimination cases rather than commercial finance. As a result, the judges are not as knowledgeable about this area, and the cases take longer to resolve. Looking to build a better mousetrap, Wurst has hit on arbitration to resolve commercial disputes in a fair and timely manner.