Barbara M Goodstein

October 01, 2009 | New York Law Journal

Alan M. Christenfeld, senior counsel at Clifford Chance US, and Barbara M. Goodstein, a partner at Dewey & LeBoeuf, write: Equity interests, such as stock, partnership interests and LLC interests, have been valuable as collateral for borrowers looking to obtain additional liquidity, particularly in mezzanine financings, where the primary lender to a project or operating borrower is often unwilling to allow second liens on its collateral, no matter how "silent." Residing at the intersection of organizational law, contract law and securities law, partnership and LLC interests have always presented challenges as collateral. Changes over the past several years in states' entity laws indicate a trend toward making it more difficult for debtors to pledge partnership and LLC interests.

By Alan M. Christenfeld and Barbara M. Goodstein

15 minute read

June 04, 2009 | New York Law Journal

Alan M. Christenfeld, senior counsel at Clifford Chance US, and Barbara M. Goodstein, a partner at Dewey & LeBoeuf, write that although the UCC makes it relatively simple to assign perfected security interests, a recent bankruptcy court ruling demonstrates that practitioners need to be familiar with state and federal statutes that may impose additional requirements on such assignments.

By Alan M. Christenfeld and Barbara M. Goodstein

15 minute read

August 06, 2009 | New York Law Journal

Alan M. Christenfeld, senior counsel at Clifford Chance US, and Barbara M. Goodstein, a partner at Dewey & LeBoeuf, survey the fundamental remedies with respect to non-consumer collateral that Part 6 affords to secured parties where the collateral is pledged to secure a debt or other obligation2 and enforcement is not stayed under bankruptcy3 or other non-UCC law.

By Alan M. Christenfeld and Barbara M. Goodstein

22 minute read

October 06, 2011 | New York Law Journal

In their Secured Transactions column, Alan M. Christenfeld, senior counsel at Clifford Chance, and Barbara M. Goodstein, a partner at Dewey & LeBoeuf, write that distressed borrowers and guarantors found themselves with a dilemma: forego using bankruptcy to effect an orderly restructuring or reorganization of borrower indebtedness or find yourself liable for hundreds of millions of dollars of formerly non-recourse debt, a quandary that would make even a bad boy cry.

By Alan M. Christenfeld and Barbara M. Goodstein

14 minute read

February 04, 2010 | New York Law Journal

Alan M. Christenfeld, senior counsel at Clifford Chance US, and Barbara M. Goodstein, a partner at Dewey & LeBoeuf, write that despite the uncertainties imposed by the rulings in In re Philadelphia Newspapers, LLC and In re Pacific Lumber Co., which held that the Bankruptcy Code does not require credit bidding any time a sale of assets occurs under a plan, each provides guidance as to how to avoid the risk meant to be protected by credit bidding - forced sale of collateral for less than its full value.

By Alan M. Christenfeld and Barbara M. Goodstein

13 minute read

August 05, 2010 | New York Law Journal

In their Secured Transactions column, Alan M. Christenfeld, senior counsel at Clifford Chance US, and Barbara M. Goodstein, a partner at Dewey & LeBoeuf, discuss the model intercreditor agreement recently promulgated by an ABA task force for use in negotiating intercreditor arrangements between a lender or lending syndicate making commercial loans secured by a first priority lien on specified collateral and a lender or lending syndicate making commercial loans secured by a second priority lien on the same collateral.

By Alan M. Christenfeld and Barbara M. Goodstein

11 minute read

April 07, 2011 | New York Law Journal

Alan M. Christenfeld, senior counsel at Clifford Chance US, and Barbara M. Goodstein, a partner at Dewey & LeBoeuf, write: The crack of the bat ushered in a new baseball season last week, but the financial problems that several sports franchises are experiencing have been focusing attention off-the-field to the teams' capitalization since well before Opening Day. Today, we examine some issues that secured lenders face when financing the acquisition or ongoing operations of, or restructuring loans to, franchises in the four major North American professional sports leagues.

By Alan M. Christenfeld and Barbara M. Goodstein

16 minute read

June 03, 2010 | New York Law Journal

Alan M. Christenfeld, senior counsel at Clifford Chance US, and Barbara M. Goodstein, a partner at Dewey & LeBoeuf, discuss the advantages and disadvantages of a "true lease" versus a security agreement, the legal considerations in determining how an agreement should be characterized under the UCC and some interesting recent decisions in this area.

By Alan M. Christenfeld and Barbara M. Goodstein

14 minute read