Asset-based lending (ABL) is built on the premise that if a borrower is unable to repay its loan, the cash conversion of the collateral is there. But in a cyber incident, collateral may remain “there” but visibility to the lender’s collateral and its quality disappears. If a borrower can’t ship, can’t invoice, or can’t produce a trustworthy borrowing base for even a few days, collateral proceeds and AR/inventory mix will change significantly, with the resultant impact on the borrowing base leaving the Lender in the dark as to their collateral vis-à-vis their loan exposure.

A recent decision from the Bankruptcy Court for the District of New Jersey (Judge Kaplan) provides important guidance that merely negotiating and entering into roll-up DIP financing does not, without more, trigger prepetition ratable sharing provisions absent express contractual language to that effect. However, DIP lenders should exercise caution in light of Judge Kaplan’s observation that the eventual satisfaction of the obligations created by the DIP and roll-up loans. may have to be shared to some extent.

Winston Taylor announces today that Winston & Strawn and Taylor Wessing’s U.K.-led business have officially launched as a single combined firm, creating a premier transatlantic law firm built for the needs of the businesses, people, and markets driving capital and innovation. One of the largest transatlantic firms, with more than 1,400 lawyers spanning the United States, the United Kingdom, Europe, Latin America, and the Middle East, Winston Taylor is built to meet clients’ evolving global needs for counsel.

What happened on May 12, 2020, at the peak of pandemic uncertainty, when legends of middle-market finance got on a video call to compare notes?

AIO Logic, the leading fintech innovator in commercial lending and secured finance technology, today announced the appointment of Tree Buckingham as chief operating officer of its Asset-Based Lending Vertical.  Based in Florida, Ms. Buckingham will be responsible for building and leading the operational infrastructure that powers AIO Logic’s ABL delivery engine — driving institutional-grade discipline, scalable client outcomes, and execution excellence across the full client lifecycle.