Alerts8.31.23
Kirschner v. JP Morgan: Syndicated Term Loans Are Not Securities, But What About Digital Assets?
The Second Circuit’s ruling was a relief for many market participants in the trillion-dollar syndicated loan market
In a highly anticipated ruling, the U.S. Court of Appeals for the Second Circuit recently ruled in Kirschner v. JP Morgan Chase Bank, N.A., that broadly syndicated term loan Bs are not securities and that securities laws may not serve as the basis of claims against parties such as those responsible for marketing such loans to potential lenders.
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