The Court ruled that (i) a seller at auction cannot withdraw a loan after it has accepted a winning bid for that loan, and (ii) an oral loan trade is enforceable so long as it identifies the material terms of the trade even if it is subject to documentation. The LSTA filed this amicus brief...
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....
