Net asset value based credit facilities (“NAV Facilities”) are credit facilities pursuant to which the availability thereunder is based on the net asset value of the investments of the borrower, typically a private fund. The...more
10/12/2023
/ Borrowers ,
Credit Facilities ,
Employee Retirement Income Security Act (ERISA) ,
Insolvency ,
Interest Rates ,
Investors ,
Lenders ,
Liquidity ,
Loans ,
NAV ,
Private Funds ,
Uniform Commercial Code (UCC) ,
Valuation
In a long-anticipated decision, on September 8, 2022, the United States Court of Appeals for the Second Circuit (the “Second Circuit”) vacated the judgment of the Southern District of New York (the “District Court”) in, In re...more