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Equitable Subordination Attacks on Secured Lenders
Credit underwriting cycles have a predictable rhythm: Commercial lenders make ever-riskier loans during boom periods and then, during the busts that follow, often see their claims or liens attacked following the bankruptcy cases of their borrowers, either by the borrowers, their trustee or the official committee of unsecured creditors appointed in the case. The current recession is mature enough that a significant number of bankruptcies involving challenges to the secured claims of lenders have percolated to the point of decision.
Here, we discuss two recent cases involving equitable subordination in bankruptcy that should inform the conduct of lenders when dealing with financially deteriorating borrowers, especially in such matters as credit facility amendments, forbearance agreements and providing additional financing.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.