Tag Archives: Corporate Transactions

Beware When Sending That Email, It Could Be an Enforceable Agreement!

This post was written by Abbey Mansfield and David Kochman. In a recent decision, the New York Appellate Division, Second Department, confirmed that in the context of a litigation, an email can be a binding agreement under CPLR 2104. While this particular decision is limited to the litigation arena, the logic could easily be applied … Continue Reading

Purchasing Loans of Failed Financial Institutions from the FDIC

When financial institutions fail, the FDIC steps in and seizes the assets of these institutions. The largest categories of assets held by a failed financial institution are its performing and non-performing loans. These loans are in the process of being sold to the public in bulk through a sealed bid process. This post explains how the sale process works, and tells how you can find information about the loans that are for sale.… Continue Reading

Can You Amend Your Loan Agreement Without a 100% Vote?

One question we hear a lot these days is whether a syndicated loan agreement can be amended to do certain things without consent of all of the lenders. With more borrowers in financial trouble, it has become increasingly important - and sometimes necessary for the borrower's survival - to get amendments passed quickly. But it can be difficult, if not impossible, to get all of the lenders to agree. This is part one of a series of posts about what to do when this issue comes up.… Continue Reading