In its October 22, 2020, CNH Diversified Opportunities Master Account, L.P. v.

As the economic crisis brought on by the novel coronavirus (COVID-19) pandemic deepens, commercial landlords would be wise to review the deposit language contained in their leases with their counsel. In particular, the wording of the rent deposit and security deposit provisions should be examined more closely and consideration given to who would be entitled to the deposit in the context of a tenant bankruptcy.

On January 17, 2017, in a long-awaited decision in Marblegate Asset Management, LLC v. Education Management Finance Corp.,1 the US Court of Appeals for the Second Circuit held that Section 316 of the Trust Indenture Act ("TIA") does not prohibit an out of court restructuring of corporate bonds so long as an indenture's core payment terms are left intact.

The US Court of Appeals for the Sixth Circuit has ruled that a lender’s security interest in accounts was not perfected because a reference to “proceeds” in the lender’s UCC financing statement did not expressly refer to “accounts.” The Sixth Circuit surprisingly interpreted the definition of “proceeds”1 in Article 9 of the Uniform Commercial Code to exclude “accounts”2 (despite and without reference to provisions of UCC Article 9 to the contrary).