In Kirschner, the Court of Appeals for the Second Circuit unanimously affirmed a district court order that held that notes evidencing term loans were not securities.
In Kirschner, the Court of Appeals for the Second Circuit unanimously affirmed a district court order that held that notes evidencing term loans were not securities but rather “[l]oans.
JPMorgan Chase & Co. and three other banks on Thursday won an appeal in U.S. District Court for the Southern District of New York that held that a $1.78.
The trustee of the Millennium Lender Claim Trust brought an action against numerous financial institutions alleging that a $1.8 billion syndicated loan transaction violated state securities laws.
Key Points - The 2nd Circuit is considering whether syndicated term loans i.e., loans to corporate entities provided by a group of lenders, rather than a single.