May

    Topsy-Turvy: The World of Non-Recourse Financing Turned Upside Down or Right Side Up?

    12 PM GMT

    The program will discuss recent case law and legislative developments in non-recourse real estate financing including:

     

    • The Michigan cases involving liability for SPE covenant breaches and subsequent Michigan and Ohio legislation prohibiting recourse for solvency covenant breaches;
    • A recent Illinois case involving recourse liability for raising defenses in mortgage enforcement proceedings;
    • Unintended consequences of solvency recourse liability on CMBS lenders’ expectations concerning bankruptcy and consolidation;
    • The trend of increasing number of liability for losses provisions;  
    • The incipient migration of loss provisions to full recourse;
    • Confusion concerning whether a requirement  for a bad boy act can be implied in a guaranty;
    • Rating agency views on these developments; and
    • The efficacy of current drafting of non-recourse carve out provisions.

     

    PANELISTS:

     

    Joseph Phillip Forte

    DLA Piper, New York, NY

     

    Meredith J. Kane

    Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY   

     

    Daniel B. Rubock

    Moody's Investors Service, Inc., New York, NY

     

    Speakers and topics are subject to change.

    © 2014 American Bar Association. All rights reserved.

     

    $0
    NON-MEMBERS
    $150
    MEMBERS
    $95
    SECTION MEMBERS
    Register Now *Additional discounts may apply at checkout

    Log In to view your rate

    Topsy-Turvy: The World of Non-Recourse Financing Turned Upside Down or Right Side Up?

    Event Details

    Format

    Web

    Date

    May 07, 2014

    2014-05-07T12:00:00 2014-05-07T13:30:00 Topsy-Turvy: The World of Non-Recourse Financing Turned Upside Down or Right Side Up?

    The program will discuss recent case law and legislative developments in non-recourse real estate financing including:

     

    • The Michigan cases involving liability for SPE covenant breaches and subsequent Michigan and Ohio legislation prohibiting recourse for solvency covenant breaches;
    • A recent Illinois case involving recourse liability for raising defenses in mortgage enforcement proceedings;
    • Unintended consequences of solvency recourse liability on CMBS lenders’ expectations concerning bankruptcy and consolidation;
    • The trend of increasing number of liability for losses provisions;  
    • The incipient migration of loss provisions to full recourse;
    • Confusion concerning whether a requirement  for a bad boy act can be implied in a guaranty;
    • Rating agency views on these developments; and
    • The efficacy of current drafting of non-recourse carve out provisions.

     

    PANELISTS:

     

    Joseph Phillip Forte

    DLA Piper, New York, NY

     

    Meredith J. Kane

    Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY   

     

    Daniel B. Rubock

    Moody's Investors Service, Inc., New York, NY

     

    Speakers and topics are subject to change.

    © 2014 American Bar Association. All rights reserved.

     

    Related Products

    Related On-Demand CLE