The Loan Market Wins Big in Kirschner Case
Success! Today the Second Circuit Court of Appeals affirmed the District Court’s decision in the Kirschner Case that the term loan in Millenium Labs is…
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Reactions to the SEC’s Punt on Kirschner from the Litigants and an Amicus
The SEC recently punted on submitting an amicus brief in the Kirschner case. The banks and Kirschner briefly responded to the punt and a consumer…
The SEC Passes on Kirschner
This week, the General Counsel of the Securities and Exchange Commission (“Commission”) notified the Court of Appeals for the Second Circuit hearing the Kirschner case.
SEC Requests Another Extension in Kirschner
The SEC asked for (and received) yet another extension of its deadline to submit a brief on its view of whether the Term Loan in…
Schrodinger’s Securities?
What really happens if the SEC suddenly says loans are securities? The LSTA’s Elliot Ganz and Meredith Coffey discuss the things that are clear(ish) and…
The SEC on the Kirschner Case: We Need More Time
The SEC has asked for more time before responding to the 2nd Circuit’s request for its views on whether loans are securities. The LSTA’s Elliot…
Are Loans Securities? Oral Argument in Kirschner is Set
The U.S. Court of Appeals for the 2nd Circuit scheduled oral argument for March 9, 2023 in a case that will decide whether syndicated Term…
Are Loans Securities LSTA Submits Amicus Brief in the Kirschner Case
Are syndicated loans securities? The LSTA says no and just filed an amicus brief explaining why. LSTA GC offers a deep dive into the brief…
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