News Archive

Posted: February 28, 2017
             Second Circuit Court of Appeals Reminds Lenders that Less Can Be More When Drafting Collateral Descriptions in UCC Financing Statements – Ring v. First Niagara Bank, N.A. (In re Sterling United, Inc.), 2016 WL 7436608 (2d Cir. 2016). 
Posted: February 28, 2017
            Southern District of New York Orders Priority of Payment for Interest on Subordinated Lenders’ Claim – U.S. Bank Nat’l Ass’n v. T.D. Bank, 2017 U.S. Dist. LEXIS 14954 (S.D.N.Y. Jan. 27, 2017).            On January 27, 2017, the Southern District of New York issued a ruling based on its reading of an intercreditor agreement that resulted in the unusual result of a subordinated creditor receiving payment of post-petition interest on its claim prior to the payment of principal on a senior creditor’s claim.
Posted: February 24, 2017
3155 Development Way, LLC v. APM Rental Properties, LLC, 52 N.E. 3d 854 (Ind. Ct. App. 2016)The Indiana Court of Appeals (“Appellate Court”)‑held that (i)‑lack of public access hidden by a seller’s attempt to induce buyers with false claims about the property’s easy access to public roads provided justification for rescission of a sales contract and an award of damages and (ii)‑the making payments to an escrow account pending resolution of the access issue did not constitute a breach of contract.
Posted: February 24, 2017
Second Circuit Court of Appeals Lifts Cloud of Uncertainty over Bond Restructurings – Marblegate Asset Mgmt., LLC v. Educ. Mgmt. Fin. Corp., 15-2141-cv(CON) (2d Cir. 2017); Marblegate Asset Mgmt. v. Educ. Mgmt. Corp., 111 F. Supp.3d 542 (S.D.N.Y. 2015) (“Marblegate II”); Marblegate Asset Mgmt. v. Educ. Mgmt. Corp., 75 F. Supp.3d 592 (S.D.N.Y. 2014) (“Marblegate I”).
Posted: February 24, 2017
Companies Are Using Covenants to Restructure Their Capital Structure and Prime Existing Debt — What Lenders and Debt Investors Need to Know
Posted: February 22, 2017
Jeemin Chung is a Senior Counsel in the Investments Division of Thrivent Financial. She advises Thrivent’s Private Investments Group with respect to private placement transactions and private fund investments. Prior to Thrivent, she was a corporate associate at Fredrikson & Byron, P.A. in Minneapolis, Minnesota, and Simpson Thacher & Bartlett LLP in New York, New York, where her practice focused on private funds and investment management. Jeemin received her B.A. from Cornell University and a J.D. from University of Michigan Law School. 
Posted: February 21, 2017
Posted: February 15, 2017
Posted: January 5, 2017
Bank of Montreal v Javed, 2016 ONCA 49 – Ontario Court of Appeal Found That The Test for Unconscionability Was Not Modified by Bhasin v Hrynew General Principle of Good Faith
Posted: January 5, 2017
I. Introduction
Posted: January 5, 2017
German Recovery and Resolution ActI. Introduction
Posted: November 29, 2016
Posted: November 17, 2016
The new exemption from UK withholding tax will affect certain debt finance arrangements and the issuance of debt securities between foreign lenders or investors and UK corporate borrowers or issuers that operate in private placement markets.
Posted: November 2, 2016
The American College of Investment Counsel (ACIC), a national organization of lawyers focused on advising institutional investors, recently elected officers and selected a new class of trustees at the organization’s annual meeting on October 21 in New York City.
Posted: October 30, 2016
Welcome to the October 2016 issue of ACIC Private Notes! It was wonderful seeing so many of you at this year's election themed conference: Make Investments Great Again! We couldn't help but think some of our panelists might make great candidates one day . . . stranger things have happened!
Posted: September 30, 2016
Posted: August 30, 2016
Posted: August 25, 2016
Delaware Bankruptcy Court Dismisses Adversary Proceeding by First Lien Noteholders Seeking Payment of Make-Whole Premium from Second Lien Noteholders Under Intercreditor Agreement – Delaware Trust Company v. ComputerShare Trust Company, N.A. and Computer Share Trust Company of Canada, Adv. Proc. No. 14-50410 (CSS) (Bankr. D. Del. June 3, 2016).
Posted: August 25, 2016
Delaware Bankruptcy Court Denies Motion to Dismiss Debtor’s Bankruptcy Case Despite Terms Under its Limited Liability Company Agreement Requiring Authorization of its Members – In re Intervention Energy Holdings, LLC, No. 16-11247 (KJC) (Bankr. D. Del. June 3, 2016).
Posted: August 2, 2016
Posted: August 1, 2016
Rock the Vote!Happy Summer Everyone!It’s been a steamy one of late here on the east coast, and as we work toward our 2016 Annual Meeting and Education Conference, things are heating up with the College, as well.
Posted: June 27, 2016
IntroductionIn response to the recent economic crisis and developments in certain other countries, the Dutch legislator has (already in December 2012) announced a number of measures to improve restructuring possibilities for companies: one proposal dealing with the “Dutch prepack” and a second proposal dealing with the “Dutch Scheme”.[1] Although the proposals have, against initial expectations and statements made by the Dutch ministry, still not been implemented, the proposals continue to shape the Dutch restructuring market.
Posted: May 26, 2016
Financing Public-Private Partnerships in the U.S. Private Placement Market
Posted: May 26, 2016
 King & Spalding Recent News in the RadioShack Bankruptcy Case: Court Resolves Intercreditor Dispute in Favor of Senior LendersBy Sarah R. Borders, Jeffrey R. Dutson and Elizabeth Tramm