Jeffrey Wurst examines two standards of the UCC for collateral description. He explains why lenders must exercise caution when intending to lend against collateral that is represented not to be part of a prior lender’s collateral package.
In the third episode of ABF Journal’s COVID-19 focused podcast, Jeffrey A. Wurst said he expects an uptick in bankruptcy filings from mainstream middle market companies and a return to “old fashioned bankruptcy.”
Thousands of Californian’s persist in living on both sides of the San Andreas fault line, knowing that a major earthquake can send them tumbling into the sea. Jeff Wurst points out that some lenders live the same way — enjoying the current economic boom and ignoring the inevitable downturn on the horizon. His suggestions can help protect businesses when the boom falls.
Jeffrey Wurst cautions lenders “to plan your divorce before you get married,” when preparing loan documents. Incorporating waivers is one way to avoid subsequent litigation. A Texas case illustrates how even unenforceable waivers can strengthen a lender’s position.
Merchant Cash Advances (MCAs) are a divisive issue in the lending community, with good reason. Jeffrey Wurst examines the pitfalls that can undermine an ABL lender and observes that many judges make rulings regarding MCAs without fully understanding the nuances of the issues.
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.
Losing its business and having to repay its debts can compel a bitter borrower to retaliate against a lender, blaming the lender for its default. Jeffrey Wurst notes the courts do not always favor borrowers, as a recent suit filed against MB Financial Bank demonstrates.
Jeffrey A. Wurst, a senior partner at Ruskin Moscou Faltischek and chair of the firm’s Financial Services, Banking & Bankruptcy Department, was named to the Long Island Pulse Magazine’s list of top 10 area attorneys.
Jeffrey A. Wurst received the Honorable Burton R. Lifland Mentor of the Year Award at this year’s NYIC Future Leaders Awards Ceremony, according to Ruskin Moscou Faltischek.
Law firm Ruskin Moscou Faltischek said Jeffrey Wurst, shareholder and chair of its Financial Services Banking and Bankruptcy Group, was elected as a fellow of the American College of Commercial Finance Lawyers.