Credit Chronometer

Thousands of clawback demands have been made in crypto bankruptcies and more are on the way. Uncertainty in the way bankruptcy law applies to digital assets can be leveraged by investors and clawbacks to resolve liability. Today on Credit Chronometer, a reminder of the open issues to be determined by the courts and the ability to mount a strong defense. https://lnkd.in/e5TAwsyC #cryptobankruptcy #cryptocurrency

In 2023, billions of dollars of commercial real estate loans supporting commercial mortgage-backed securities, were transferred to special servicers, which administer loans in default. This trend is only expected to intensify in 2024.   In an article for Reuters/Westlaw titled, “Knowledge Is Power: Accessing Loan Information in Troubled CMBS,” Joseph Cioffi, Seiji Newman and Andrew Spillane encourage CMBS investors to familiarize themselves with specific information flows pre- and post-default under their deals to understand their rights to the information needed to understand their position and minimize exposure.   Read the full article below. https://lnkd.in/ebRhEwHF   #RealEstate #CMBS #Loans

The SDNY’s decision in Ripple Labs was mainly a sizable victory for the crypto industry, but the ripple effect is far from over. Even though the SEC’s success in treating XRP as a security was limited to institutional sales, the SEC has demanded nearly $2 billion in fines with $876 million in disgorgement, $198 million in prejudgment interest and $876 million civil penalty. Ripple has responded that the civil penalty should not exceed $10 million and seeks dismissals of the disgorgement charge and prejudgment interest. The outcome will have a substantial impact on digital asset enforcement activities going forward. https://hubs.li/Q02tWlQZ0 #Crypto #cryptonews

In a two-part in-depth interview with Valuation Review, I explained how valuation is the linchpin in the commercial real estate sector, but also the gateway to legal disputes. Part 2 includes a discussion of regulatory and legal risks and opportunities related to current trends and office conversions. https://hubs.li/Q02tk8Vn0

If you want to know the future of commercial real estate, look at how valuations are affecting the market and how the market is impacting valuations. In a two-part an in-depth interview with Valuation Review, I explained how valuation, the linchpin in the sector, is also the gateway to legal disputes. Part 1 includes a discussion of valuation-related disputes on the horizon.  https://lnkd.in/d3_5k5GR #CommercialRealEstate #Valuation

Due to marijuana’s current legal status, most mainstream businesses – including banks, media companies, payment processors, investors, and advertising agencies – have avoided participating in the marijuana industry. All of this MAY be changing in 2024 as the DEA reviews the FDA’s pending decision to legalize marijuana. In this article for Law360, Joseph Cioffi and Louis DiLorenzo discuss actions taken by the federal government to assess marijuana’s legal status as more and more states legalize marijuana for medical and recreational use. https://lnkd.in/epB2ektK #cannabisfinancing #marijuana #cannabisindustry

CMBS investors should prepare for deterioration in commercial real estate performance by understanding how loan information flows and rights to access information may change if the loans supporting their deals enter default. In an article for Reuters Legal News and Thomson Reuters Westlaw Today, Joseph Cioffi, H. Seiji Newman and Andrew Spillane advise CMBS investors to thoroughly familiarize themselves with the specific information flows pre- and post- default to understand their position and develop strategies for when the time comes to take action.    Read the full article below. https://lnkd.in/ebRhEwHF   #CMBSInvestors #RealEstate #Loans

Forces impacting commercial real estate, including fewer transactions and office vacancies, are putting downward pressure on valuations. These conditions, divergent interests of deal parties and high stakes such as potential changes in control of loan servicing rights when appraisals dip, are also testing appraisers and their methodologies. Thanks to Bisnow for including my thoughts in this article providing a unique perspective on the challenges for appraisers in the commercial real estate market. https://lnkd.in/eXHaJdW4 #CommercialRealEstate #Appraisal #RealEstateValuation

CMBS investors should prepare for deterioration in commercial real estate performance by understanding how loan information flows and rights to access information may change if the loans supporting their deals enter default. In this article for Reuters Legal News and Thomson Reuters Westlaw Today, my co-authors and I advise #CMBS investors to review the specific information flows pre- and post- default to understand their position and develop strategies for when the time comes to take action. https://lnkd.in/eX4J3MAq #realestateinvesting #commercialrealestate

You can’t drive your house to work to pay your mortgage, and so auto lenders and investors have generally counted on consumers prioritizing their loans ahead of mortgages and other debt. But what happens when rising home prices increase consumers’ equity in their homes which they want to protect and credit card debt mounts? Stresses on the consumer may result in changes to the payment hierarchy as consumers juggle financial obligations. You can read about trends in the market here: https://lnkd.in/ejWpbB-6 And visit Credit Chronometer for the legal impact that deteriorating loan performance can have on investors and the market: https://lnkd.in/e-k3w34e #autoloans #mortgageloans #financenews