Second Circuit upholds SDNY’s finding that under Reves syndicated loans are not securities under federal law.
Introduction -
On August 24, 2023, the US Court of Appeals for the Second Circuit issued its highly...more
8/29/2023
/ Appeals ,
Blue Sky Laws ,
Commercial Bankruptcy ,
Credit Facilities ,
Debt Instruments ,
Institutional Investors ,
Lenders ,
Loans ,
Market Participants ,
Recapitalization ,
Refinancing ,
Securities ,
Syndicated Loans
Decision affirms long-standing market convention.
On May 22, 2020, Judge Gardephe of the US District Court for the Southern District of New York held that syndicated term loans do not constitute securities under various...more