Interesting and compelling news from Cappello & Noël.
Lenders often demand far more security than they need when a business borrower seeks a loan. While this may be a prudent and cautious lending strategy for banks, it can prove disastrous for a business borrower or guarantor who pledges personal collateral for the loan.
A collapse of the commercial real estate sector will be catastrophic to financial institutions and the economy so lenders must act now to avoid such a financial debacle, says A. Barry Cappello, nationally renowned attorney specializing in lender liability law.
Business borrowers are beginning to feel the ripple effects of the financial crisis as lenders tighten commercial lending in a cautionary attempt to stop further erosion of capital and assets, says lender liability expert A. Barry Cappello, managing partner with the Santa Barbara law firm of Cappello & Noel, LLP. He says the coming commercial credit crunch will be hard felt--especially by small businesses and borrowers in certain industries.
Leila J. Noël, partner with the Santa Barbara law firm of Cappello & Noël LLP, was named one of the "Top 75 Women Lawyers" in California by the Los Angeles and San Francisco Daily Journals. Noël was the only attorney selected from Santa Barbara County or surrounding counties (Ventura and San Luis Obispo). The list of top attorneys was released [ More... ]
May 12, 2011 LOS ANGELES, CALIF.--MGA Entertainment, a Los Angeles-based toymaker best known for its Bratz product line, filed a lawsuit against several large European banks over their alleged concealment of accounting fraud at French toymaker Smoby prior to MGA's purchase of the company. Because the banks manipulated Smoby's internal finances, the lawsuit says MGA now stands to lose as [ More... ]
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