This Lawsuit Could Upend Banks' Role in Syndicated Loans
Jennifer Pastarnack was quoted in in the article "This Lawsuit Could Upend Banks' Role in Syndicated Loans," published by American Banker [sub. req'd] on November 29, 2022. The article discusses a case pending in the 2nd Circuit, Kirschner v. JPMorgan Chase Bank, N.A. The 2nd Circuit will consider an appeal for a 2020 case that held syndicated term loans are not securities and not subject to the securities laws.
On the case, Jennifer, who leads the firm's global debt and claims trading practice, said: "Lawyers, bankers and other secondary loan market participants should all pay close attention to this case... Precedent turned on fact-specific issues. There is a whole new set of facts here. It is careless to disregard and not follow a case of this significance and magnitude."