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Generally, legal fees may be currently deductible as ordinary and necessary business expenses. Examples of legal actions in which fees are currently deductible include: Continue reading →

On February 1, 2012, President Obama, as part of an overall plan to assist homeowners and help the housing market, announced a pilot plan for the U.S. Federal Housing Finance Agency (the “FHFA”) to sell REO currently held by Fannie Mae for transition into rental housing as a way to help stabilize neighborhoods and improve home prices. Continue reading →

Many commercial real estate investors have been considering a return to the market. The following is a discussion of the issues that will affect the price of commercial real estate. Continue reading →

The California Capital Access Program (“CalCAP”) is a lending program with the objective of encouraging banks and other financial institutions to make loans to small businesses. With CalCAP portfolio insurance, a lender is able to cover portions of loans that exceed the risk threshold normally allowed for business loans. Continue reading →

In August 2011, the Loan Syndications and Trading Association (“LSTA”) through its Primary Market Committee (“PMC”) published its revised Model Credit Agreement Provisions 2011 (“Revised MCAPs”). The Revised MCAPs have become, with certain variations, standard market terms in many bank forms. Continue reading →

Over the past few years, there has been increased litigation over the enforcement of commercial guaranties by lenders. As more borrowers default on their loan obligations, lenders have more frequently taken action against guarantors to recover damages due to a borrower’s default. In response, guarantors have raised a variety of defenses.

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In an important decision relating to asset protection for single-member limited liability companies, the Florida Supreme Court reviewed a statute that permitted debtors to use a wholly owned limited liability company (LLC) to put their assets beyond the reach of judgment creditors. Continue reading →

In the case In re Zais Investment Grade Ltd., a senior noteholder of a collateralized debt obligation placed the CDO issuer in an involuntary chapter 11 bankruptcy in order to advance an asset management plan that would otherwise require supermajority approval of all noteholders under the related indenture. Continue reading →

Dodd-Frank Wall Street Reform and Consumer Protection Act will change the liability exposure of intermediaries in the sale of securities. Continue reading →

Federal agencies are beginning to review banks’ relationships with third-party payment processors. Regulators have scrutinized certain payment processors because the processor/merchant relationships make it difficult for consumers to identify the merchant because the bank statement shows the payment processor’s name and not the merchant’s name. Continue reading →