Making the most of what you’ve got: how secured creditors can overcome common obstacles to recourse

This article is intended to be read alongside a March issue article ((2018) 3 JIBFL 173 available here) in which Max Millington explored the trends in direct lending and noted certain unusual features encountered with such transactions, often in the mid-market, which limit a lender’s ability to take comprehensive guarantees and security from the borrowing group. As Max mentioned, such transactions do not conform to those contemplated by LMA leveraged documentation. Participants on direct lending transactions should understand these risks and the possible ways to mitigate them.

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Filed Under: JIBFL

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