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Breach of Contract › Loan Agreements › Borrowers

Morrison & Foerster LLP

Scrivener’s Error in Guaranty Reformed Outside of Statute of Limitations and Held Enforceable

Morrison & Foerster LLP on

In an appeal heard by the Appellate Division of the Supreme Court in the First Judicial Department of New York, the Court recently ruled that a court may reform a guaranty after the statute of limitations for a reformation of...more

King & Spalding

Second Circuit Finds No Waiver of Usury Defense in Breach of Loan Agreement Case

King & Spalding on

On September 6, 2023, the U.S. Court of Appeals for the Second Circuit vacated and remanded a district court’s decision rejecting borrower defendants’ usury defense on grounds of waiver and collateral estoppel. The lender,...more

A&O Shearman

Liquidity, MAC and Cessation of Business in English Law Loan Financings

A&O Shearman on

The COVID-19 pandemic and the responses adopted by governments around the world to mitigate its human cost will have a considerable impact on economic activity. We are seeing the forced closures of businesses and restrictions...more

A&O Shearman

Lender under no duty to advise borrower about onerous term in loan agreement

A&O Shearman on

A lender did not owe a contractual or tortious duty to advise a borrower about a potentially onerous clause in a loan agreement. The clause in question made the borrower liable for the lender’s hedging break costs if the...more

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