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Principals Richard Kohn and Jonathan Cooper Present on Cross-Border Loans at ABA Business Law Meeting

April 22, 2010

Richard Kohn and Jonathan Cooper, both principals in the firm’s Commercial Finance Group, gave a presentation at the American Bar Association Business Law Section’s spring meeting on April 22 in Denver, Colorado entitled, “Shoring Up Distressed Cross-Border Loans.”

As a result of the recent economic crisis, loan portfolios throughout the country are riddled with distressed loans. Many of these distressed loans involve a cross-border element.  A borrower may have significant assets located outside the United States, may have valuable foreign subsidiaries, or may simply sell to customers located outside of the U.S.  While the foreign assets and subsidiaries may have substantial value, liens on foreign assets and guaranties from foreign subsidiaries often were not required when these loans were first made due to cost, tax or other considerations.

Once a loan becomes distressed, the need for foreign credit support should be reconsidered. The presentation discussed in detail ways to “shore up” distressed loans by supplementing them with liens on available foreign collateral and foreign guaranties, and included a detailed discussion of applicable foreign secured transactions and insolvency laws.  

Richard Kohn and Jonathan Cooper practice in the field of cross-border finance, and have written and lectured extensively on the subject.  Richard Kohn is also Co-General Counsel of the Commercial Finance Association and is currently serving on an expert group assisting the United Nations Commission on International Trade Law (UNCITRAL) in the area of secured transactions. Jonathan Cooper also has worked extensively with UNCITRAL on secured transactions projects and is the Vice-Chair of the American Bar Association Subcommittee on Cross Border and Trade Finance.

Please feel free to call either Richard Kohn or Jonathan Cooper if you would like more information regarding the presentation or have any questions regarding this topic. 

Richard M. Kohn
312.201.3920
richard.kohn@goldbergkohn.com

Jonathan M. Cooper
312.201.3980
jonathan.cooper@goldbergkohn.com


Please click here to view the presentation “Shoring Up Distressed Cross-Border Loans.”

Please click here to view a related article entitled “Shoring Up Distressed Cross-Border Loans.” 

Attorneys At Law

55 East Monroe Street
Suite 3300
Chicago, Illinois 60603-5792
Tel: 312.201.4000
Fax: 312.332.2196
Email: info@goldbergkohn.com

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