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Syndicated Loan Market Advocacy & Regulatory

The LSTA advocates on behalf of the loan market, and focuses on critical matters (regulations under Dodd-Frank, Leveraged Lending Guidance, FATCA and Bankruptcy reform) that could dramatically affect the loan market and the broader economy.

Displaying 1-18 of 18 results.
DateTitle/DescriptionFiles
Sep 2, 2016

In re Jevic

On Friday, September 2nd, the LSTA filed an amicus brief with the Supreme Court of the United States in In re Jevic urging the court to overturn the use of structured dismissals that violate the absolute priority rule, a foundational tenant of the bankruptcy code.  This case will determine whether Chapter 11 of the Bankruptcy Code permits a bankruptcy court to approve a settlement where proceeds are distributed in disregard of the priorities established in the code without the consent of the adversely affected creditors.

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Sep 16, 2015

Marblegate Asset Management v. Education Management Corp. (“Marblegate II”)

On September 16th, the LSTA filed an amicus brief in connection with an appeal to the U.S. Court of Appeals for the 2nd Circuit of a recent case decided in the Southern District of New York which could have important consequences for the market for distressed debt.  In Marblegate Asset Management v. Education Management Corp. (“Marblegate II”) Judge Katherine Polk Failla, interpreted Section 316(b) of the Trust Indenture Act (“TIA”) expansively, giving rise to concerns that bondholders could exert additional leverage in out-of-court restructurings. The LSTA’s brief argues that the court misread Section 316(b) of the TIA by expanding its reach from the legal right of minority bondholders to receive payments of principal and interest to any action that might have the practical effect of making it more difficult to receive payment.

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Aug 10, 2015

Stonehill Capital v. Bank of the West

The LSTA filed an amicus brief requesting that the Court of Appeals, NY State's highest court, agree to hear an appeal of a case, Stonehill Capital v. Bank of the West, which presents two questions of utmost importance to the loan market.

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Feb 19, 2015

LSTA Files Amicus Brief For The 2nd Circuit in Support of Rehearing En Banc

The Loan Syndications and Trading Association and The Clearing House Association L.L.C. request leave to file a brief as amici curiae in support of JPMorgan's pending petition for rehearing en banc.

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Jan 16, 2015

LSTA Files Amicus Brief with U.S. Supreme Court Over Holders of Mortgages in Bankruptcy

LSTA, joined by the American Bankers Association, the Securities Industry and Financial Markets Association and the Clearing House Association, filed with the Supreme Court of the United States an amicus brief in support of the proposition that a bankruptcy court cannot compel the holder of a mortgage to relinquish property to a debtor, free of the lien, without payment in full of the underlying debt.

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Jun 27, 2014

Bank of America v. Caulkett

The LSTA, joined by the Clearing House and the American Bankers Association, filed an amicus brief in support of a petition to the U.S. Supreme Court for a writ of certiorari (seeking review of a case) in Bank of America v. Caulkett that could have important ramifications for secured lenders.

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Dec 6, 2012

W.R. Grace

The LSTA submitted an amicus brief to the United States Court of Appeals for the Third Circuit in In re W.R. Grace & Co.  The issue addressed by the brief was the “absolute priority rule”, the bankruptcy rule that requires that a debtor’s creditors be paid in full before its stockholders recover anything.

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Jun 29, 2012

CompuCredit

The LSTA filed an amicus brief in CompuCredit Holdings Corporation v. Akanthos Capital Management, LLC, a case that raises the issue of whether collective action by creditors in pre-existing loans constitutes a per-se violation of the anti-trust laws.

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Apr 9, 2012

LSTA Submits Joint Amicus Brief to US Supreme Court in RadLAX Bankruptcy Case

The LSTA submitted an amicus brief to the US Supreme Court in the RadLAX Gateway Hotel case, arguing that secured creditors cannot  be prevented from “credit bidding” in an auction of their collateral in a “cram down” plan of reorganization.

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Sep 9, 2011

RadLAX Gateway Hotel Inc. v. Amalgamated Bank

The LSTA filed an amicus brief supporting a successful petition for certiorari review by the U.S. Supreme Court in a case involving credit bidding.

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Mar 18, 2011

In re Yellowstone Mountain Club

The LSTA filed an amicus brief in support of the secured lenders in a case involving equitable subordination.

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Feb 24, 2011

In re River Road Hotel Partners

The LSTA filed a successful amicus brief in In re River Road Hotel Partners, supporting secured creditors’ absolute right to credit bid.

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Dec 6, 2010

DBSD vs DISH

The LSTA filed an amicus brief with the U.S. Circuit Court of Appeals for the 2nd Circuit in a case involving the “designation” (disqualification) of a distressed buyer’s vote in bankruptcy.

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Jun 8, 2010

In re TOUSA

On June 8, 2010, the LSTA filed with the Florida District Court an amicus brief in support of the secured lenders in a case involving fraudulent conveyance.

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Nov 25, 2009

DDJ vs Rhone

The LSTA filed successful amicus briefs in DDJ Capital Management v. Rhone Group with the New York Court of Appeals in support of DDJ Capital’s request for review, and on the merits, in a case concerning the ability to rely on a borrower’s representations and warranties.

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Nov 18, 2009

In re Philadelphia Newspapers

The LSTA filed an amicus brief with the 3rd Circuit in a case concerning the right of secured creditors to credit bid.

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Sep 23, 2009

In re SemCrude

In September 2009, the LSTA filed an amicus brief in a dispute concerning the Uniform Commercial Code (UCC).

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Jul 23, 2009

Trust for the Certificate Holders of the Merrill Lynch Mortgage Investors, Inc. v. Love Funding Corp (Love Funding).

The LSTA filed an amicus brief with The New York Court of Appeals in a case concerning whether an assignment of a claim violates New York’s statute forbidding trading in litigation claims.

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