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Topsy-Turvy: The World of Non-Recourse Financing Turned Upside Down or Right Side Up?
Closed
Format:
Webinar
Date:
May 7, 2014
Time:
12:00 PM - 1:30 PM CT
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Credits:
1.50 General CLE Credit Hours
Sponsor(s):

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.

 

  • List Price: Free
  • Member Price: $150.00
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