IS NOW CLOSED.
EXPECTATIONS AND UNINTENDED CONSEQUENCES–
IT’S NOT JUST FINANCIAL COVENANTS!
Joint Educational Program Hosted by:
NYCFA in conjunction with ACFA
Wednesday, February 13, 2019, 4:45 PM - 7:00 PM EST
(Cocktail Reception followed by Presentation)
The Yale Club of New York City
50 Vanderbilt Avenue
New York City
Lenders Beware: Expectations and Unintended Consequences—It’s Not Just Financial Covenants!
Over the last few years there have been a series of transactions by borrowers resulting in increased risk to lenders, reduced assets available for a recovery and changes to the nature of the borrower’s business —that borrowers have viewed as permitted under their loan documents. These out-of-court restructurings by distressed companies (or “liability management exercises”) using covenant baskets are often not exactly what lenders had in mind or thought was permitted.
Actions by J. Crew, Chewy.com, and others (including more recently Neiman Marcus) have resulted in litigation between borrowers and lenders as lenders try to fight back against the surprises coming out of the covenants in their loan documents. The panel will take a deep dive into these cases so lenders know what to watch out for in their documents and ways to deal with them, even in this borrower friendly environment.
No Fee – FREE EVENT FOR NYCFA CHAPTER MEMBERS
$50 Members / $35 YoPro’s will be paid by Sponsor, Otterbourg P.C.
NYCFA Chapter membership must be current in order to register
Haven't joined the CFA New York Chapter?Click here to purchase your 2019 membership.***Registration limited to the first 50 registrants***
David W. Morse, Member and Co-Chair of Finance Practice, Otterbourg P.C.
Michael Barocas, Member, Otterbourg P.C.
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NY CFA BOARD MEMBERS:
Andrew Loughlin, NY CFA President
People's United Bank
Howard Moore III, NY CFA Vice President
Gerber Finance Inc.
Carl Giordano, NY CFA Treasurer
If you are interested in joining the CFA NYC Board and/or partnering with us for future educational events, please contact Andrew Loughlin or Howard Moore.