ABF Journal illustrator, Jerry Gonzalez’ visual interpretation of a top-ranked abfjournal.com news story according to our visitors.
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.
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.
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…
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.
Nov/Dec 2010 Issue
Vol. 8, No. 8
Annual Commercial Finance Issue
ABF Journal illustrator Jerry Gonzalez depicts the sale of KBC Business Capital to PNC Business Credit, the asset-based lending arm of The PNC Financial Services Group.
By Evan Flaschen “Big boy” disclaimers are a staple of the debt syndication and trading marketplaces. While their enforceability vis-à-vis an SEC fraud investigation has always been suspect (due to public policy considerations), they are generally viewed as creating an enforceable contract between the syndicator/seller and the buyer themselves. The theory is that a sophisticated […]
When putting together and closing any asset-based lending deal, the ingredients that are needed include patience, communication, and capital, but most importantly for both the lender and the borrower, it requires teamwork. And it was a great amount of teamwork that led to the closing of a $350 million ABL for O’Neal Steel, led by U.S. Bank Asset Based Finance. We caught up with U.S. Bank’s Sam Philbrick and O’Neal Steel’s Michael Rowland to get the details of the deal.
Loan economics are just one of many factors influencing the workout banker’s decisions in the complex arena known as commercial bank workouts. Workout bankers in many commercial banks manage risk, not just loans. Kristina Anderson continues her discussion on de-mystifying the workout banker’s motivations.