Syndicating asset-based loans is a tried-and-true method of mitigating the risk of overexposure to certain industries and borrowers, but the process is far from simple, especially considering the different types of lenders. Inez M. Markovich and Howard Brod Brownstein outline some important considerations for successful syndication.
U.S. Bank entered into a definitive agreement to purchase PFM Asset Management under its subsidiary, U.S. Bancorp Asset Management. PFM Asset Management will continue to operate as a separate entity. The agreement was signed on July 7 and is expected to close in Q4/21.
There are numerous uncertainties surrounding the Paycheck Protection Program, but one of the most puzzling is the Small Business Administration’s bankruptcy exclusion, which has been treated unevenly across the court system.
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.
Companies in bankruptcy do not have access to the Paycheck Protection Program, at least according to the letter of the law. However, the issue has become less clear as illustrated by the decisions in In re Hidalgo and In re Cosi Inc. Howard M. Berkower and Franklin Barbosa Jr. of McCarter & English take a closer look at those decisions and how their inconsistencies muddy the waters.