Elliot Ganz, Head of Advocacy, LSTA and Partners Jason Kyrwood and James Florack from Davis Polk & Wardwell LLP discussed the District Court for the Southern District of New York (SDNY) decision in Kirschner v. JPM....
Elliot Ganz, Head of Advocacy, LSTA and Partners Jason Kyrwood and James Florack from Davis Polk & Wardwell LLP discussed the District Court for the Southern District of New York (SDNY) decision in Kirschner v. JPM....
The syndicated loan market can finally breathe a collective sigh of relief. On August 24th, in a unanimous decision, the United States Circuit Court of Appeals for the Second Circuit (the “Court”) affirmed the ruling by the District Court for the Southern District of New York (SDNY) in Kirschner v. JPM that a syndicated term...
COMING WEBINAR. On Wednesday, September 6th at 4 p.m., we will be hosting a webinar on the Kirschner case: What Does it Say and What Are the Takeaways? with Jason Kyrwood and James Florack of Davis Polk, moderated by the LSTA’s Elliot Ganz. You can register by clicking here. On August 24th, in a unanimous...
Success! Today the Second Circuit Court of Appeals affirmed the District Court’s decision in the Kirschner Case that the term loan in Millenium Labs is not a security.
In a decision of great importance to syndicated loan market, Judge Paul Gardephe of the Southern District of New York recently ruled that syndicated institutional term loans are not securities. This webinar discussed the background of the case and why it was so important, what the decision actually says, whether or not it is likely...
In a decision of great importance to syndicated loan market, Judge Paul Gardephe of the Southern District of New York recently ruled that syndicated institutional term loans are not securities. This webinar discussed the background of the case and why it was so important, what the decision actually says, whether or not it is likely...
The attached document is the motion to dismiss in Kirschner v. JPMorgan Chase, a case that considers whether the origination and distribution of the Millennium Laboratories “Term Loan B” is subject to state (and, effectively, federal) securities laws....
The LSTA (joined by the Bank Policy Institute) filed the amicus brief in a case brought by a litigation trust that arose from the Millennium bankruptcy....
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK MARC S. KIRSCHNER, solely in his capacity as TRUSTEE OF THE MILLENNIUM LENDER CLAIM TRUST, Plaintiff, v. JPMORGAN CHASE BANK, N.A., J.P. MORGAN SECURITIES LLC, CITIBANK GLOBAL MARKETS INC., CITIBANK N.A., BMO CAPITAL MARKETS CORP., BANK OF MONTREAL, SUNTRUST ROBINSON HUMPHREY, INC., and SUNTRUST BANK, Defendants....
