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Results: 1-10 of 82

‘Point of no return’ is not the point says Supreme Court

  • Reed Smith LLP
  • -
  • United Kingdom
  • -
  • May 9 2013

So Eurosail-UK 2007-3BL plc (Eurosail) is not 'balance sheet' insolvent, no event of default has occurred under the RMBS notes it has issued and a

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

Bankruptcy Court grounds American Airlines noteholders’ make-whole claim

  • Bracewell & Giuliani LLP
  • -
  • USA
  • -
  • January 22 2013

Last week the United States Bankruptcy Court for the Southern District of New York approved debtor-American Airlines' motion to enter into a secured

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

US$2.2 billion drydocks world restructuring approved in first test case under Dubai Decree No. 57

  • Latham & Watkins LLP
  • -
  • United Arab Emirates
  • -
  • August 30 2012

On August 28, 2012, the Special Tribunal related to Dubai World (the “Tribunal”) formally approved the restructuring of more than US$2 billion of debt of Drydocks World LLC and Drydocks World Dubai LLC (together, “Drydocks”) under a syndicated term loan facility and separate hedging agreements, in the first restructuring approved under Dubai Decree No. 57 for 2009 (“Decree 57”

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

Banking litigation update

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • July 19 2012

In Lomas, the Court of Appeal heard four joined appeals concerning the interpretation of various provisions of the ISDA Master Agreement

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

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