Finance Law and Banking Law

BNP Paribas is seeking a Vice President - Legal Counsel to serve on the Asset Finance & Securitization (“AFS”) Legal team.

The global aviation leasing and finance market continues to navigate an era of unprecedented geopolitical risk.

Adopting Accounting Standards Codification (ASC) 842, Leases, introduces new considerations for companies with leases. One such complex consideration is accounting for the potential impairment...

As climate-related risks intensify and infrastructure demands grow, how can resilience infrastructure strengthen economies and communities? This discussion examines the distinction between resilience infrastructure and resilient infrastructure, exploring investment opportunities in emerging markets and the role of blended finance in unlocking institutional capital. The conversation delves into key considerations for investors and the future of resilience-focused infrastructure development.

Arizona's new State Affordability Infrastructure District framework becomes operational on September 14, creating unprecedented opportunities for developers to finance public infrastructure through a statewide vehicle. As the first formation petitions are prepared, critical decisions about district boundaries, financing structures, and bond capacity will determine the success of projects across the state.

Electric generation projects rarely get built, let alone financed, without a long-term contract locking in revenue. That contract, referred to as an offtake agreement, determines whether a project can attract limited-recourse debt and whether investors are willing to commit capital to construction.

An Ohio-based bank holding company has announced a $728.1 million all-stock acquisition of a Maryland-based bank holding company, creating a combined institution with approximately $14 billion in assets. The transaction will push the acquirer over the critical $10 billion asset threshold, triggering direct CFPB supervision and additional regulatory requirements.

Unitranche facilities have become increasingly prevalent in modern financing, offering a blended senior-junior structure documented through a single loan agreement. As this credit product continues to evolve beyond its middle-market origins, questions arise about the enforceability of agreement-among-lenders provisions in bankruptcy proceedings and how courts will treat the unique single-lien structure when disputes emerge between first-out and last-out tranches.

Partner Kalish Mullen discusses the current LBO financing market landscape, highlighting how strong market liquidity is creating opportunities for quality borrowers to negotiate better terms. He provides strategic guidance on key considerations for management teams navigating financing agreements in an environment of elevated borrowing costs and economic uncertainty.

Companies are being pushed to make difficult decisions about where they source materials, develop products, manufacture, and serve customers. Geopolitical shifts, protectionist policies, changing regulations, and transport disruptions can undermine a supply chain or market strategy that once delivered dependable results. A familiar supplier may become harder to use. A profitable customer relationship may become more expensive to support. A market that appeared accessible may require a different commercial approach.

The US Treasury and IRS have issued new guidance targeting ETF tax strategies, including the controversial '351 conversion transaction' that allows investors to defer taxation on appreciated securities. Revenue Ruling 2026-20 and Notice 2026-62 identify multiple strategies as potentially abusive, signaling increased scrutiny of tax deferral mechanisms used by exchange-traded funds and investment partnerships.

The SEC has proposed amendments to custody rules under the Investment Advisers Act and Investment Company Act that extend beyond crypto assets to address longstanding practical challenges in traditional finance. These modernizations include eliminating PCAOB supervision requirements for private fund audits, codifying fund-of-funds delivery extensions, clarifying discretionary trading authority for non-DVP transactions, and rewriting broker-dealer custody rules for registered funds.