Topic
Credit Agreements
18 published works
Thomson Reuters Law Blog
How Pluralsight blockers close the loophole J.Crew started
By Jadematusick
Highlights J.Crew blockers now appear in half of deals, a record high that followed years of lender pushback. Pluralsight blockers close the gap J.Crew language missed by covering non-guarantor restricted…
Thomson Reuters Law Blog
This is your captain speaking: we’ve begun our descent into structural subordination
By Jamesju
Highlights Incremental debt terms typically require that new debt not mature earlier than existing debt, protecting original lenders' place in line. 'Inside maturity' baskets carve out an exception, letting a…
Thomson Reuters Law Blog
Corporate democracy, sort of
By Jamesju
Highlights Change of Control Portability lets a borrower avoid an event of default when ownership changes, effectively transferring the loan to a new owner without lender consent. The term appeared…
Thomson Reuters Law Blog
When half a defense is no defense at all
By Jamesju
Highlights IP transfer prohibitions now appear in 24% of deals; unrestricted subsidiary designation restrictions appear in 23%. Only 12% of deals include both protections together — full J.Crew blocker coverage.…
Thomson Reuters Law Blog
Default now, or forever hold your peace
By Jamesju
Highlights Temporal limits on default bar lenders from declaring a default based on a breach disclosed long ago and never acted on. The term appeared in 16% of credit deals…
Thomson Reuters Law Blog
The big stack printed more chips
By Jamesju
Highlights In 2022, Wesco/Incora's majority noteholders amended their own indenture to issue themselves new priority notes, then used the voting power those notes granted to strip security from minority holders.…
Iowa Banking Law Blog
Iowa Supreme Court Protects Banks from Parties “Slicing” and “Repackaging” Claims in an Effort to Avoid the Credit Agreement Statute of Frauds
By mpawloskydickinsonbradshaw-com-dickinson-bradsh
The Iowa Supreme Court, in County Bank v. Shalla, unanimously held that Iowa Code section 535.17 bars negligence and fraud claims against banks. The decision was premised upon the Iowa…
Bright Law Blog
Small amount credit contract obligations
ASIC has published a report Falling short: Compliance with the small amount credit contract obligations (REP 805) which summarises findings and observations from ASIC’s review of Australian credit licensees who…
Bright Law Blog
ASIC proposes to extend its short term credit and continuing credit contracts product intervention orders
ASIC has published Consultation Paper 371 Product intervention orders: Short term credit facilities and continuing credit contracts (CP 371) seeking feedback on proposals to extend both product intervention orders. Background.…
Bright Law Blog
Case note: unlawful harassment by debt agreement administrator
In Australian Securities and Investment Commission v A&M Group Pty Ltd trading as Debt Negotiators [2022] FCA 1534 the Federal Court ordered A&M Group Pty Ltd, which trades as Debt…