Practice/Industry Group Overview
Sheppard Mullin's Commercial Lending and Financial Transactions Group is composed of attorneys who specialize in the documentation, negotiation and structuring of financial transactions. Attorneys in this group represent lenders, lessors, venture capital groups, investors and, at times, sellers, lessees and borrowers. In tandem with our insolvency and litigation attorneys, we often handle the transactional aspects of the restructuring and workout of troubled loans and the representation of creditors in bankruptcy proceedings. We also represent financial institutions in matters such as licensing, establishment of new branches, regulatory and form compliance procedures. We also provide opinions for California law issues such as usury, form compliance for federal and state consumer transactions, UCC and securitization issues.
In the past few years, our attorneys have seen a significant change in the financial and legal services marketplace, especially for attorneys structuring and documenting transactions for financial institutions. The transactions have become more complex and sophisticated. At the same time, technological innovations have substantially shortened the length of time in which transactions are expected to be documented and closed. The competitive marketplace for our clients has made legal fees and expenses a critical component in the success of our clients even getting the deal. In response to this environment, we have organized our Commercial Lending and Financial Transactions Group with a focus on experience, organization, technology and economy. We believe the combination of these four components provides superior legal services to our clients at a price and within the time limitations now expected and required in the marketplace.
Articles Authored by Lawyers at this office:
FINRA Raises the Bar on Due Diligence by Broker Dealers Involved in EB-5
Dawn M. Lurie, September 20, 2013
At the end of August, the Financial Industry Regulatory Authority, Inc. (FINRA) issued an interpretive guidance letter to a registered broker dealer (BD), Trustmont Financial Group, Inc. (Trustmont). Trustmont had sought guidance on the applicability of FINRA Rules, and in particular Rule 2111...
Argentina's Financial Fate Now Depends on the U.S. Supreme Court
Marcos Vergara del Carril, August 29, 2013
The Second Circuit has affirmed the injunctions against Argentina in NML Capital, Ltd. v. Republic of Argentina, a case that we have been following in this blog, although the amended injunctions shall be stayed pending the resolution by the Supreme Court of a timely petition for a writ of...
Committee's Attack upon Lender's Make-Whole Premium Denied
Shawn K. Watts, July 02, 2013
The United States Bankruptcy Court for the District of Delaware (the “Court”) recently upheld a $23.7 million make-whole payment (the “Make-Whole Payment”) in In re School Specialty (Case No. 13-10125), denying the assertion by the Official Committee of Unsecured Creditors...
Saying Goodbye to Fannie and Freddie?
Kristy E. Young, July 02, 2013
The U.S. Treasury placed Fannie Mae and Freddie Mac into conservatorship in September 2008 as a result of the subprime mortgage crisis. Five years later, the first indications of potential reform are emerging from Capitol Hill. Senators Bob Corker (R-TN) and Mark Warner (D-VA) are currently working...
The Libor Scandal: What's Next?
Evan Sypek, June 05, 2013
The London Interbank Offered Rate (Libor) is calculated daily by the British Banking Association (BBA) and published by Thomson Reuters. The rates are calculated by surveying the interbank borrowing costs of a panel of banks and averaging them to create an index of 15 separate Libor rates for...
Judge Rules In Favor Of Stockton And Accepts Chapter 9 Petition
Danielle T. Kennedy, April 15, 2013
Round one of the fight between the City of Stockton, California and its creditors is finally over. On April 1, 2013, Bankruptcy Judge Christopher M. Klein held that Stockton satisfied the eligibility requirements for a Chapter 9 debtor.
The Seventh Circuit Expands Scope of Absolute Priority Rule to Protect Creditors
Blanka K. Wolfe, March 28, 2013
In a recent decision, In re Castleton Plaza, LP, 2013 WL 537269 *1 (Feb. 14, 2013), the Seventh Circuit held that the absolute priority rule ¿ which requires that creditors be paid in full before equity holders receive anything on account of their equity interests under a plan of...
Pilot Development of Cross-border RMB Loans in Qianhai District
, March 08, 2013
The first batch of cross-border RMB loan agreements were signed on January 28, 2013. A total of 15 lenders, including HSBC Holding Plc and Industrial & Commercial Banks of China (Asia) Ltd., will provide about RMB 2 billion ($321 million) of cross-border RMB loans to companies in Qianhai (a...