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Results: 1-10 of 19

What matters: A review of 2011 and 2012

  • Kramer Levin Naftalis & Frankel LLP
  • -
  • USA
  • -
  • April 1 2013

As you know, the last two years have seen a somewhat improved, but by no means robust, business climate. At the same time, structural shifts in the

An answer to the 'clogging' question under NY law

  • Kaye Scholer LLP
  • -
  • USA
  • -
  • March 22 2013

Recently, on the eve of closing a large mortgage loan for a regional mall intended for a single asset securitization, it was determined that there

Latest trends in the enforceability of make-whole premiums

  • Cole Schotz Meisel Forman & Leonard PA
  • -
  • USA
  • -
  • February 4 2013

A lender's entitlement to a make-whole premium, that is, a prepayment penalty designed to compensate the lender for the loss of interest payments it

NCUA sues UBS over $1.1 billion in RMBS sold to collapsed credit unions

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • September 17 2012

On September 6, 2012, the National Credit Union Administration Board (NCUA) sued UBS in the United States District Court for the District of Kansas

FDIC files five lawsuits against bank entities over RMBS

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • August 20 2012

On August 10, the FDIC in its capacity as receiver for Colonial Bank filed five lawsuits three in Alabama state court, one in New York federal court, and one in California federal court seeking $741 million in damages from a number of investment banks, including Bank of America Corp., JPMorgan Chase & Co., Citigroup, Inc., and others, for making allegedly false and misleading statements that induced Colonial Bank into buying mortgage-backed securities

Recent decisions on non-recourse carve-outs in CMBS loans

  • Alston & Bird LLP
  • -
  • USA
  • -
  • March 19 2012

Recent court decisions in the state of MichiganWells Fargo Bank, NA v. Cherryland Mall, ____ N.W.2d _____, 2011 WL 6785393 (Mich.App. 2011) (Cherryland) in the Michigan intermediate appellate court and 51382 Gratiot Avenue Holdings Inc. v. Chesterfield Development Company, 2011 U.S. Dist. LEXIS 142404 (E.D. Mi. Dec. 12, 2011) (Chesterfield) in a federal district courthave presented lenders, master and special servicers with new considerations in enforcing their rights and remedies, but confronted borrowers and guarantors in real estate finance markets with vastly different legal liability and unexpected economic consequences than had previously been understood or thought to have been documented in CMBS mortgage transactions

Bankruptcy Court determines that TBA contracts do not qualify as customer claims

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • December 16 2011

The United States Bankruptcy Court for the Southern District of New York issued a memorandum decision in the Lehman Brothers Inc. (LBI) liquidation proceeding confirming the LBI trustee’s determination that certain claims relating to TBA contracts do not qualify as customer claims against LBI’s estate

JPMorgan sues FDIC in third-party suit

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • August 1 2011

On July 25, 2011, JPMorgan Bank filed a third-party complaint against the FDIC in the Southern District of Ohio, claiming the FDIC indemnified JPMorgan when it agreed to buy assets from Washington Mutual, which went bankrupt in 2008

Enforceability of capital commitments in a subscription credit facility

  • Mayer Brown LLP
  • -
  • USA
  • -
  • July 7 2011

A subscription credit facility (a “Facility”), also frequently referred to as a capital call facility, is a loan made by a bank or other credit institution (the “Creditor”) to a closed end real estate or private equity fund (the “Fund”

Court provides senior creditors with an additional mechanism for obtaining the right to vote a junior creditor's claim in a bank

  • White & Case LLP
  • -
  • USA
  • -
  • April 25 2011

A senior creditor can obtain significant leverage over a chapter 11 debtor if it is able to vote not only its claim but the claims of junior creditors in connection with the solicitation of a plan of reorganization

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