Photo of J. Bradley Keck

There has been increasing discussion with respect to the accounting treatment of trade payable programs and whether the obligations of the entity that owes the receivable (the “company”) under these programs should continue to be treated as trade payables on their balance sheet or, instead, be reflected as
Continue Reading Accounting and Rating Agency Treatment of Supply Chain and other Trade Payables Programs

The disruptions in economic conditions caused by the coronavirus disease 2019 (COVID-19) are reaching the commercial paper and longer term debt capital  markets.  The Board of Governors of the Federal Reserve System (Federal Reserve) has already set into motion three separate facilities as part of its effort to facilitate credit and help alleviate collateral volatility

We have recently survived the longest government shutdown in U.S. history and narrowly avoided another.  Congress passed a full appropriations bill on February 15, 2019, which the president signed.  Parts of the appropriations begin to expire as early as October 1, 2019. Here’s a look at how the ABS markets are affected during a government

As we pack our bags for Las Vegas (and it looks like our winter coats too), we are happy that several Mayer Brown partners will be featured speakers at SFIG Vegas 2019, being held February 24-27, 2019. See the more information at the conference website.

Leading off on Sunday, February 24, 2019,  Brad Keck will share his experiences as a practice leader and Hiring Partner, on a panel discussing The Law Firm of the Future: Successfully managing the Modern Practice.  Then on Monday, February 25, Carol Hitselberger, a leader not only at Mayer Brown but also in the securitization industry, will participate on a panel entitled, Beyond GSE CRT: Expanding the Use of Credit Risk Transfer; and Matt O’Meara, head of the firm’s Private Credit practice, will moderate the Private Credit Funds: 2019 Market Outlook panel. Credit Funds will be front and center at SFIG this year.


Continue Reading Mayer Brown lawyers featured at SFIG Vegas 2019 conference

Well … a lot. But one that comes across our desks far too often is: “I didn’t realize you need to file a UCC financing statement to perfect an outright sale of accounts receivable.” So as to not bury the lede: you should always file a UCC financing statement to perfect the sale of accounts. Now there is an narrow exception and maybe in a particular transaction there may be an eyes-wide-open reason that someone would choose not to file, but Article 9 of the UCC is clear. So clear in fact that official comment 4 to UCC 9-309 simply says: “Any person who regularly takes assignments of any debtor’s accounts or payment intangibles should file.” I generally recommend staying on-sides with a statue’s drafters.

Continue Reading So, first up, what is easy that you can really mess up?

This space is happily reserved for the discussion of securitization and the financing of financial assets. We have been at it a while and look to share some of the insights we have picked up along the way, as well as those we traverse every day.

Initially, we will not only provide quick takes on